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 Wednesday, Church & Dwight's Director, James Craigie, made a $481,530 buy of CHD, purchasing 6,000 shares at a cost of $80.25 each. Investors can snag CHD even cheaper than Craigie did, with shares trading as low as $79.32 in trading on Friday -- that's 1.2% below Craigie's purchase price. Church & Dwight is trading up about 0.5% on the day Friday.
And on Tuesday, Director Cynthia Jane Comparin purchased $476,955 worth of Universal Display, purchasing 2,300 shares at a cost of $207.37 a piece. Before this latest buy, Comparin made one other purchase in the past year, buying $199,025 shares for a cost of $149.87 a piece. Universal Display is trading off about 0.5% on the day Friday.
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