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, Travelzoo's Global Chief Executive Officer, Holger Bartel, made a $136,000 purchase of TZOO, buying 25,000 shares at a cost of $5.44 a piece. Bartel was up about 6.6% on the purchase at the high point of today's trading session, with TZOO trading as high as $5.80 in trading on Monday. Travelzoo is trading up about 7.7% on the day Monday.
And at Acuity Brands, there was insider buying on Thursday, by Director Laura O'shaughnessy who purchased 575 shares at a cost of $174.54 each, for a total investment of $100,360. This buy marks the first one filed by O'shaughnessy in the past year. Acuity Brands is trading up about 0.1% on the day Monday. So far O'shaughnessy is in the green, up about 5.4% on their purchase based on today's trading high of $183.92.
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