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.
On Thursday, Wintrust Financial's Director, Alex E. Washington III, made a $93,290 buy of WTFC, purchasing 1,000 shares at a cost of $93.29 a piece. Washington III was up about 2.6% on the purchase at the high point of today's trading session, with WTFC trading as high as $95.70 at last check today. Wintrust Financial is trading up about 0.6% on the day Monday.
And at Akamai Technologies, there was insider buying on Friday, by Chief Executive Officer F. Thomson Leighton who purchased 842 shares for a cost of $89.31 each, for a total investment of $75,196. Before this latest buy, Leighton purchased AKAM on 15 other occasions during the past year, for a total investment of $851,668 at an average of $86.60 per share. Akamai Technologies is trading off about 1.8% on the day Monday. Bargain hunters are able to bag AKAM at a price even lower than Leighton did, with shares changing hands as low as $87.67 in trading on Monday which is 1.8% below Leighton's purchase price.
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