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.
At Nicolet Bankshares, a filing with the SEC revealed that on Tuesday, CEO Michael E. Daniels purchased 5,000 shares of NIC, at a cost of $77.95 each, for a total investment of $389,769. So far Daniels is in the green, up about 2.8% on their buy based on today's trading high of $80.17. Nicolet Bankshares is trading up about 2.7% on the day Thursday.
And on Monday, Director William C. Cobb purchased $255,100 worth of Frontdoor, purchasing 10,000 shares at a cost of $25.51 a piece. This purchase marks the first one filed by Cobb in the past twelve months. Frontdoor is trading up about 4.7% on the day Thursday.
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