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, Community Bank System's President, Commercial Banking, Jeffrey M. Levy, made a $50,186 buy of CBU, purchasing 1,300 shares at a cost of $38.60 a piece. Levy was up about 4.0% on the buy at the high point of today's trading session, with CBU trading as high as $40.14 at last check today. Community Bank System is trading down about 0.7% on the day Wednesday. This buy marks the first one filed by Levy in the past twelve months.
And at Terex, there was insider buying on Friday, by Director Andra Rush who bought 1,130 shares for a cost of $44.31 each, for a total investment of $50,070. Terex is trading down about 0.1% on the day Wednesday. Rush was up about 4.5% on the buy at the high point of today's trading session, with TEX trading as high as $46.31 at last check today.
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