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.
At CryoLife, a filing with the SEC revealed that on Wednesday, Senior VP, Global Sales John E. Davis purchased 10,000 shares of CRY, at a cost of $16.65 each, for a total investment of $166,459. Davis was up about 14.0% on the buy at the high point of today's trading session, with CRY trading as high as $18.98 in trading on Friday. CryoLife, is trading up about 6% on the day Friday. This buy marks the first one filed by Davis in the past year.
And on Thursday, Chief Executive Officer Gary Vogel bought $160,072 worth of Eagle Bulk Shipping, buying 9,000 shares at a cost of $17.79 a piece. Eagle Bulk Shipping is trading up about 2.8% on the day Friday. So far Vogel is in the green, up about 16.3% on their buy based on today's trading high of $20.69.
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