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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Houlihan Lokey, a filing with the SEC revealed that on Monday, Chief Financial Officer J. Lindsey Alley purchased 4,020 shares of HLI, at a cost of $124.52 each, for a total investment of $500,570. So far Alley is in the green, up about 4.5% on their buy based on today's trading high of $130.11. Houlihan Lokey is trading up about 1% on the day Friday. This purchase marks the first one filed by Alley in the past twelve months.
And on Tuesday, EVP & GM Daniel J. Castillo purchased $351,254 worth of Wesco International, purchasing 960 shares at a cost of $365.89 a piece. Before this latest buy, Castillo made one other purchase in the past year, buying $372,484 shares for a cost of $266.06 a piece. Wesco International is trading off about 0.7% on the day Friday. Castillo was up about 3.1% on the purchase at the high point of today's trading session, with WCC trading as high as $377.15 in trading on Friday.
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