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 Thursday, Cantel Medical's CEO, George L. Fotiades, made a $305,838 buy of CMD, purchasing 5,000 shares at a cost of $61.17 each. Fotiades was up about 6.4% on the purchase at the high point of today's trading session, with CMD trading as high as $65.10 at last check today. Cantel Medical is trading up about 3.8% on the day Tuesday. This purchase marks the first one filed by Fotiades in the past twelve months.
And also on Thursday, CFO & EVP William August Hickey Jr. bought $1,495 worth of Kingsway Financial Services, buying 817 shares at a cost of $1.83 a piece. Before this latest buy, Hickey Jr. purchased KFS at 13 other times during the past year, for a total cost of $27,001 at an average of $2.21 per share. Kingsway Financial Services is trading off about 1.6% on the day Tuesday. Bargain hunters are able to pick up KFS even cheaper than Hickey Jr. did, with shares changing hands as low as $1.79 in trading on Tuesday which is 2.2% below Hickey Jr.'s purchase price.
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