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 Monday, Costco Wholesale Corp (NASDAQ:COST)'s Director, John W. Meisenbach, made a $727,935 purchase of COST, buying 3,000 shares at a cost of $242.65 a piece. So far Meisenbach is down about 0.7% on the purchase, with shares changing hands as low as $241.02 in trading on Wednesday. Costco Wholesale Corp is trading up about 0.3% on the day Wednesday. This purchase marks the first one filed by Meisenbach in the past twelve months.
And at Raven Industries (RAVN), there was insider buying on Monday, by Director Rick Parod who bought 2,600 shares at a cost of $39.05 each, for a total investment of $101,530. This buy marks the first one filed by Parod in the past year. Raven Industries is trading up about 0.5% on the day Wednesday. So far Parod is down about 0.8% on the buy, with shares changing hands as low as $38.73 in trading on Wednesday.
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