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.
At Dycom Industries (NYSE:DY), a filing with the SEC revealed that on Wednesday, Director Richard K. Sykes purchased 2,000 shares of DY, for a cost of $94.81 each, for a total investment of $189,620. Investors have the opportunity to grab DY at a price even lower than Sykes did, with shares changing hands as low as $93.07 at last check today — that's 1.8% under Sykes's purchase price. Dycom Industries is trading up about 0.9% on the day Monday.
And also on Wednesday, Director John R. Salvetti purchased $165,759 worth of Columbia Financial (NASDAQ:CLBK), purchasing 10,000 shares at a cost of $16.58 a piece. Before this latest buy, Salvetti made one other buy in the past year, purchasing $51,137 shares for a cost of $17.05 a piece. Columbia Financial is trading up about 0.5% on the day Monday. Salvetti was up about 3.5% on the buy at the high point of today's trading session, with CLBK trading as high as $17.15 at last check today.
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