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 Friday, Tiffany & Co. (NYSE:TIF)'s Director, Francesco Trapani, made a $4.97M buy of TIF, purchasing 40,000 shares at a cost of $124.25 a piece. Tiffany & Co. is trading up about 0.8% on the day Monday. Before this latest buy, Trapani bought TIF at 6 other times during the past year, for a total cost of $10.81M at an average of $98.27 per share.
And on Thursday, Director David Pulver bought $739,125 worth of Carter's (NYSE:CRI), buying 7,500 shares at a cost of $98.55 each. Before this latest buy, Pulver purchased CRI on 2 other occasions during the past year, for a total investment of $765,973 at an average of $102.13 per share. Carter's is trading up about 0.2% on the day Monday.
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