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 German American Bancorp (NASDAQ:GABC), a filing with the SEC revealed that on Tuesday, Chris A. Ramsey purchased 27,509 shares of GABC, at a cost of $36.85 each, for a total investment of $1.01M. German American Bancorp is trading off about 0.4% on the day Thursday. Before this latest buy, Ramsey bought GABC on 11 other occasions during the past year, for a total cost of $438,247 at an average of $35.10 per share.
And also on Tuesday, CFO Terrence W. Olson bought $216,542 worth of THL Credit (NASDAQ:TCRD), buying 26,000 shares at a cost of $8.33 a piece. Before this latest buy, Olson purchased TCRD on 5 other occasions during the past year, for a total investment of $3.67M at an average of $7.86 per share. THL Credit is trading up about 0.5% on the day Thursday. Investors can buy TCRD even cheaper than Olson did, with the stock trading as low as $7.97 at last check today — that's 4.3% below Olson's purchase price.
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