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.
On Tuesday, CACI International's Chief Executive, CACI Limited, Gregory R. Bradford, made a $498,885 buy of CACI, purchasing 2,275 shares at a cost of $219.29 a piece. CACI International is trading up about 0.2% on the day Thursday. This purchase marks the first one filed by Bradford in the past twelve months.
And at HollyFrontier, there was insider buying on Monday, by Director Franklin Myers who bought 3,310 shares at a cost of $37.57 each, for a trade totaling $124,357. This purchase marks the first one filed by Myers in the past twelve months. HollyFrontier is trading off about 0.6% on the day Thursday. Myers was up about 7.7% on the purchase at the high point of today's trading session, with HFC trading as high as $40.46 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.