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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, HanesBrands's Chief Executive Officer, Gerald Evans, made a $309,050 buy of HBI, purchasing 17,500 shares at a cost of $17.66 a piece. So far Evans is in the green, up about 6.1% on their buy based on today's trading high of $18.74. HanesBrands is trading up about 0.9% on the day Friday.
And also on Wednesday, Director Michael Massood Jr. bought $272,382 worth of Columbia Financial, buying 16,436 shares at a cost of $16.57 a piece. Before this latest buy, Massood Jr. bought CLBK on 2 other occasions during the past year, for a total cost of $279,673 at an average of $12.82 per share. Columbia Financial Inc is trading off about 0.3% on the day Friday. Massood Jr. was up about 3.3% on the purchase at the high point of today's trading session, with CLBK trading as high as $17.12 in trading on Friday.
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