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.
At Avon Products, a filing with the SEC revealed that on Tuesday, Director James A. Mitarotonda purchased 456,908 shares of AVP, at a cost of $1.91 each, for a total investment of $873,892. Avon Products, is trading up about 1.1% on the day Wednesday.
And on Monday, Director Patrick Walsh bought $519,736 worth of Del Taco Restaurants, buying 45,000 shares at a cost of $11.55 a piece. Del Taco Restaurants is trading up about 2.3% on the day Wednesday.
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