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 Neogen, a filing with the SEC revealed that on Friday, CEO John Edward Adent bought 14,500 shares of NEOG, for a cost of $13.80 each, for a total investment of $200,100. So far Adent is in the green, up about 6.2% on their purchase based on today's trading high of $14.65. Neogen is trading up about 3.2% on the day Tuesday. This purchase marks the first one filed by Adent in the past twelve months.
And on Thursday, President Avigal Soreq purchased $99,957 worth of Delek Logistics Partners, purchasing 2,563 shares at a cost of $39.00 each. Delek Logistics Partners is trading down about 0.6% on the day Tuesday. So far Soreq is in the green, up about 0.9% on their purchase based on today's trading high of $39.35.
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