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 Thursday, Bain Capital Specialty Finance (NYSE:BCSF)'s CEO, Michael A. Ewald, made a $500,550 purchase of BCSF, buying 27,483 shares at a cost of $18.21 each. Bain Capital Specialty Finance is trading up about 1.2% on the day Friday. Before this latest buy, Ewald purchased BCSF on 13 other occasions during the past twelve months, for a total investment of $503,121 at an average of $20.09 per share.
And at Citizens Financial Group (NYSE:CFG), there was insider buying on Tuesday, by Director Charles John Koch who purchased 15,000 shares at a cost of $32.45 each, for a total investment of $486,750. Before this latest buy, Koch made one other purchase in the past year, buying $508,480 shares at a cost of $36.32 each. Citizens Financial Group is trading off about 0.1% on the day Friday. So far Koch is in the green, up about 1.9% on their purchase based on today's trading high of $33.08.
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