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 Monday, Capstead Mortgage Corp. (NYSE:CMO)'s Director, John L. Bernard, made a $150,137 purchase of CMO, buying 20,000 shares at a cost of $7.51 a piece. Bernard was up about 4.7% on the buy at the high point of today's trading session, with CMO trading as high as $7.86 in trading on Tuesday. Capstead Mortgage Corp. is trading up about 0.8% on the day Tuesday. Before this latest buy, Bernard purchased CMO at 2 other times during the past year, for a total investment of $68,394 at an average of $6.84 per share.
And also on Monday, Director Jack M. Lewis purchased $109,500 worth of National Bankshares (NASDAQ:NKSH), purchasing 3,000 shares at a cost of $36.50 each. This buy marks the first one filed by Lewis in the past twelve months. National Bankshares is trading up about 1.3% on the day Tuesday. Lewis was up about 6.7% on the buy at the high point of today's trading session, with NKSH trading as high as $38.93 in trading on Tuesday.
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