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 Friday, Texas Capital Bancshares' Director, Robert W. Stallings, made a $436,320 purchase of TCBI, buying 8,000 shares at a cost of $54.54 each. Texas Capital Bancshares is trading off about 0.7% on the day Wednesday. Before this latest buy, Stallings purchased TCBI at 7 other times during the past twelve months, for a total cost of $1.75M at an average of $53.82 per share.
And at Commercial Metals, there was insider buying on Monday, by CEO Peter R. Matt who purchased 6,200 shares at a cost of $40.30 each, for a total investment of $249,860. Commercial Metals is trading up about 1.5% on the day Wednesday.
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