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, Cornerstone Building Brands' EVP, CFO, Jeffrey S. Lee, made a $468,061 purchase of CNR, buying 80,000 shares at a cost of $5.85 each. Cornerstone Building Brands is trading up about 5.5% on the day Tuesday. This purchase marks the first one filed by Lee in the past twelve months.
And at Yield10 Bioscience, there was insider buying on Friday, by CEO Oliver P. Peoples who bought 10,000 shares at a cost of $0.88 each, for a trade totaling $8,800. Yield10 Bioscience is trading up about 3.3% on the day Tuesday.
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