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.
On Thursday, Two Harbors Investment's CEO, William Ross Greenberg, made a $230,183 purchase of TWO, buying 35,000 shares at a cost of $6.58 a piece. Greenberg was up about 9.6% on the purchase at the high point of today's trading session, with TWO trading as high as $7.21 at last check today. Two Harbors Investment is trading up about 3% on the day Monday. This buy marks the first one filed by Greenberg in the past twelve months.
And at CVS Health, there was insider buying on Wednesday, by Director Edward J. Ludwig who bought 3,000 shares at a cost of $72.00 each, for a trade totaling $216,000. This buy marks the first one filed by Ludwig in the past year. CVS Health is trading down about 0.5% on the day Monday. Investors are able to snag CVS at a price even lower than Ludwig did, with the stock trading as low as $69.37 at last check today which is 3.6% under Ludwig's purchase price.
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