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 Monday, CVB Financial's Director, Mike Maddox, made a $220,300 purchase of CVBF, buying 10,000 shares at a cost of $22.03 each. So far Maddox is in the green, up about 1.1% on their buy based on today's trading high of $22.27. CVB Financial is trading up about 0.2% on the day Tuesday. This buy marks the first one filed by Maddox in the past year.
And at Grocery Outlet Holding, there was insider buying on Thursday, by Director Carey F. Jaros who bought 15,000 shares for a cost of $11.70 each, for a total investment of $175,500. Before this latest buy, Jaros made one other purchase in the past year, buying $250,400 shares at a cost of $6.26 a piece. Grocery Outlet Holding Corp is trading up about 2% on the day Tuesday. So far Jaros is in the green, up about 5.9% on their purchase based on today's trading high of $12.39.
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