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 one noteworthy recent insider buy.
On Thursday, Hibbett's CIO, Ronald P. Blahnik, made a $197,428 purchase of HIBB, buying 2,200 shares at a cost of $89.74 a piece. Bargain hunters have the opportunity to bag HIBB even cheaper than Blahnik did, with the stock trading as low as $83.03 at last check today -- that's 7.5% below Blahnik's purchase price. Hibbett is trading down about 2% on the day Monday. This buy marks the first one filed by Blahnik in the past year.
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