Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, Worthington Industries (NYSE:WOR)'s Director, Michael J. Endres, made a $119,340 buy of WOR, purchasing 3,000 shares at a cost of $39.78 a piece. So far Endres is in the green, up about 5.4% on their buy based on today's trading high of $41.91. Worthington Industries is trading down about 0.3% on the day Friday. This buy marks the first one filed by Endres in the past twelve months.
And at First Busey Corp (NASDAQ:BUSE), there was insider buying on Monday, by Director Jon D. Stewart who purchased 252 shares for a cost of $29.95 each, for a trade totaling $7,547. Before this latest buy, Stewart purchased BUSE on 7 other occasions during the past twelve months, for a total investment of $50,827 at an average of $30.56 per share. First Busey Corp is trading down about 0.3% on the day Friday. Stewart was up about 1.4% on the purchase at the high point of today's trading session, with BUSE trading as high as $30.37 in trading on Friday.
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