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, HomeStreet's Director, Mark Robert Patterson, made a $595,800 buy of HMST, purchasing 20,000 shares at a cost of $29.79 each. Patterson was up about 4.6% on the buy at the high point of today's trading session, with HMST trading as high as $31.16 at last check today. HomeStreet is trading up about 3.2% on the day Friday. Before this latest buy, Patterson purchased HMST on 5 other occasions during the past year, for a total cost of $1.42M at an average of $24.57 per share.
And at Kimberly-Clark, there was insider buying on Thursday, by Director Robert W. Decherd who purchased 3,000 shares at a cost of $132.67 each, for a total investment of $398,015. Kimberly-Clark is trading up about 0.3% on the day Friday. Decherd was up about 1.4% on the purchase at the high point of today's trading session, with KMB trading as high as $134.56 at last check today.
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