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.
At Weyerhaeuser, a filing with the SEC revealed that on Wednesday, Director Albert Monaco purchased 10,000 shares of WY, at a cost of $29.11 each, for a total investment of $291,050. Investors have the opportunity to buy WY at a price even lower than Monaco did, with the stock trading as low as $26.67 at last check today which is 8.4% below Monaco's purchase price. Weyerhaeuser is trading down about 3% on the day Monday. This buy marks the first one filed by Monaco in the past twelve months.
And also on Wednesday, Director Ollin B. Sykes bought $200,015 worth of Charles & Colvard, buying 258,004 shares at a cost of $0.78 a piece. This buy marks the first one filed by Sykes in the past twelve months. Charles & Colvard is trading down about 9.4% on the day Monday. Sykes was up about 9.6% on the buy at the high point of today's trading session, with CTHR trading as high as $0.85 in trading on Monday.
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