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 First Busey, a filing with the SEC revealed that on Monday, Director Stanley J. Bradshaw bought 9,500 shares of BUSE, at a cost of $23.94 each, for a total investment of $227,425. So far Bradshaw is in the green, up about 2.5% on their buy based on today's trading high of $24.55. First Busey is trading up about 0.4% on the day Wednesday.
And on Friday, Director Gilbert H. Lamphere purchased $157,735 worth of Norfolk Southern, purchasing 607 shares at a cost of $259.86 each. Before this latest buy, Lamphere made one other buy in the past year, purchasing $149,446 shares for a cost of $219.77 each. Norfolk Southern Corp is trading down about 0.3% on the day Wednesday. Investors can snag NSC even cheaper than Lamphere did, with the stock trading as low as $252.03 in trading on Wednesday -- that's 3.0% under Lamphere's purchase price.
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