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, Central Pacific Financial Corp (NYSE:CPF)'s President, Agnes Catherine Ngo, made a $253,508 buy of CPF, purchasing 8,550 shares at a cost of $29.65 a piece. Investors have the opportunity to bag CPF at a price even lower than Ngo did, with the stock trading as low as $29.12 in trading on Tuesday which is 1.8% below Ngo's purchase price. Central Pacific Financial Corp is trading up about 1.6% on the day Tuesday.
And at Centene Corp (NYSE:CNC), there was insider buying on Friday, by Director Jessica L. Blume who bought 2,850 shares for a cost of $52.99 each, for a total investment of $151,022. Centene Corp is trading down about 0.8% on the day Tuesday. So far Blume is in the green, up about 1.7% on their purchase based on today's trading high of $53.87.
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