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, Unifi (NYSE:UFI)'s, Robert J. Bishop, made a $1.19M purchase of UFI, buying 39,038 shares at a cost of $30.50 a piece. Unifi is trading off about 1.3% on the day Thursday. Before this latest buy, Bishop purchased UFI on 11 other occasions during the past year, for a total investment of $4.15M at an average of $34.71 per share.
And on Tuesday, EVP & Chief Financial Officer Kevin Bradley purchased $324,200 worth of United States Steel Corp. (NYSE:X), purchasing 10,000 shares at a cost of $32.42 each. Before this latest buy, Bradley purchased X on 2 other occasions during the past year, for a total investment of $1.80M at an average of $31.73 per share. United States Steel Corp. is trading up about 1.5% on the day Thursday. Bradley was up about 2.6% on the buy at the high point of today's trading session, with X trading as high as $33.27 at last check today.
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