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 Tuesday, Carriage Services (NYSE:CSV)'s CEO, Melvin C. Payne, made a $1.06M buy of CSV, purchasing 66,000 shares at a cost of $16.04 a piece. So far Payne is in the green, up about 9.5% on their buy based on today's trading high of $17.56. Carriage Services is trading up about 7.2% on the day Thursday.
And at Compass Diversified Holdings (NYSE:CODI), there was insider buying on Monday, by Elias Sabo who purchased 50,000 shares for a cost of $15.35 each, for a total investment of $767,315. Before this latest buy, Sabo made one other buy in the past year, purchasing $391,875 shares at a cost of $15.68 a piece. Compass Diversified Holdings is trading off about 1.7% on the day Thursday. Sabo was up about 5.3% on the purchase at the high point of today's trading session, with CODI trading as high as $16.16 at last check today.
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