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 Friday, Eli Lilly's Director, Jackson P. Tai, made a $249,759 buy of LLY, purchasing 1,366 shares at a cost of $182.84 a piece. So far Tai is in the green, up about 3.5% on their purchase based on today's trading high of $189.25. Eli Lilly is trading up about 1.8% on the day Tuesday.
And at Colony Bankcorp, there was insider buying on Thursday, by Director Meagan M. Mowry who bought 3,166 shares at a cost of $15.71 each, for a trade totaling $49,738. Before this latest buy, Mowry made one other purchase in the past year, buying $35,955 shares for a cost of $11.08 each. Colony Bankcorp, is trading down about 0.9% on the day Tuesday. So far Mowry is in the green, up about 4.6% on their purchase based on today's trading high of $16.43.
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