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 Wednesday, Colfax's Director, Mitchell P. Rales, made a $11.56M buy of CFX, purchasing 250,200 shares at a cost of $46.19 a piece. Rales was up about 3.9% on the buy at the high point of today's trading session, with CFX trading as high as $47.98 at last check today. Colfax is trading off about 0.8% on the day Monday. This purchase marks the first one filed by Rales in the past year.
And also on Wednesday, Director David P. Hess bought $500,588 worth of Woodward, buying 4,400 shares at a cost of $113.77 a piece. Woodward is trading down about 2.6% on the day Monday. Investors are able to bag WWD at a price even lower than Hess did, with shares changing hands as low as $110.62 at last check today which is 2.8% under Hess's purchase price.
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