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.
At Gentex, a filing with the SEC revealed that on Monday, CEO Steven R. Downing bought 10,000 shares of GNTX, at a cost of $25.74 each, for a total investment of $257,400. So far Downing is in the green, up about 4.8% on their buy based on today's trading high of $26.97. Gentex is trading up about 0.5% on the day Tuesday.
And also on Monday, Director Barry H. Evans bought $239,786 worth of Prudential Global Short Duration High Yield Fund, buying 22,600 shares at a cost of $10.61 a piece. Prudential Global Short Duration High Yield Fund is trading up about 1.5% on the day Tuesday. So far Evans is in the green, up about 2.4% on their purchase based on today's trading high of $10.86.
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