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 Friday, Guaranty Bancshares' Director, James S. Bunch, made a $171,160 purchase of GNTY, buying 5,500 shares at a cost of $31.12 each. So far Bunch is in the green, up about 2.8% on their buy based on today's trading high of $32.00. Guaranty Bancshares is trading up about 2.5% on the day Wednesday. Before this latest buy, Bunch bought GNTY at 15 other times during the past twelve months, for a total cost of $1.25M at an average of $29.07 per share.
And at Comfort Systems USA, there was insider buying on Monday, by Director Franklin Myers who bought 2,000 shares for a cost of $64.81 each, for a total investment of $129,630. Before this latest buy, Myers purchased FIX at 2 other times during the past year, for a total cost of $277,714 at an average of $39.67 per share. Comfort Systems USA is trading up about 3.7% on the day Wednesday. Myers was up about 7.0% on the buy at the high point of today's trading session, with FIX trading as high as $69.35 at last check today.
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