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 Wednesday, Unit Corp. (UNT)'s Director, G. Bailey Peyton IV, made a $21,900 purchase of UNT, buying 3,000 shares at a cost of $7.30 each. Unit Corp. is trading down about 0.3% on the day Thursday. Before this latest buy, Peyton IV made one other purchase in the past year, buying $34,950 shares for a cost of $11.65 each.
And on Monday, CEO John Paul Roehm purchased $2,790 worth of Infrastructure & Energy Alternatives (IEA), purchasing 1,000 shares at a cost of $2.79 a piece. Before this latest buy, Roehm made one other purchase in the past year, buying $4,900 shares at a cost of $4.90 a piece. Infrastructure & Energy Alternatives is trading off about 2.3% on the day Thursday. Bargain hunters are able to buy IEA at a price even lower than Roehm did, with the stock changing hands as low as $2.56 at last check today which is 8.2% below Roehm's purchase price.
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