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.
At FreightCar America, a filing with the SEC revealed that on Friday, Felan Jose De Nigris purchased 4,000 shares of RAIL, for a cost of $10.19 each, for a total investment of $40,741. FreightCar America is trading up about 7.3% on the day Monday.
And on Thursday, Director Sharon A. Decker purchased $29,950 worth of Culp, purchasing 5,000 shares at a cost of $5.99 each. Before this latest buy, Decker made one other purchase in the past twelve months, buying $25,978 shares at a cost of $5.20 a piece. Culp is trading up about 9% on the day Monday. Decker was up about 11.0% on the purchase at the high point of today's trading session, with CULP trading as high as $6.65 in trading on Monday.
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