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, Crown Castle International's Director, Kevin A. Stephens, made a $328,310 purchase of CCI, buying 2,000 shares at a cost of $164.15 each. So far Stephens is in the green, up about 1.5% on their purchase based on today's trading high of $166.61. Crown Castle International is trading up about 1.4% on the day Tuesday.
And at Surgalign Holdings, there was insider buying on Monday, by Director Jeffrey C. Lightcap who purchased 166,667 shares at a cost of $1.50 each, for a trade totaling $250,000. Surgalign Holdings is trading up about 23.7% on the day Tuesday. Lightcap was up about 45.3% on the purchase at the high point of today's trading session, with SRGA trading as high as $2.18 in trading on Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.