Thursday 11/6 Insider Buying Report: IMI, CROX Thursday, November 6, 3:04 PM ET
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 Intermolecular (IMI), a filing with the SEC revealed that on Tuesday, Director Irwin Federman purchased 100,000 shares of IMI, for a cost of $2.25 each, for a total investment of $224,960. Investors can grab IMI at a price even lower than Federman did, with shares changing hands as low as $2.18 at last check today which is 3.1% under Federman's purchase price. Intermolecular is trading up about 0.9% on the day Thursday.
And on Monday, Director Gregg Ribatt purchased $115,498 worth of Crocs (CROX), purchasing 10,000 shares at a cost of $11.55 each. This purchase marks the first one filed by Ribatt in the past year. Crocs is trading up about 2.1% on the day Thursday. So far Ribatt is in the green, up about 8.4% on their buy based on today's trading high of $12.52.
For MarketNewsVideo.com, I'm Kristin Bianco.
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