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 Thursday, Crocs' Director, Douglas J. Treff, made a $748,389 purchase of CROX, buying 9,600 shares at a cost of $77.96 a piece. Bargain hunters are able to grab CROX even cheaper than Treff did, with shares changing hands as low as $67.03 at last check today which is 14.0% below Treff's purchase price. Crocs Inc is trading up about 5.8% on the day Tuesday. Before this latest buy, Treff made one other purchase in the past twelve months, buying $740,662 shares at a cost of $91.44 each.
And at Truist Financial, there was insider buying on Friday, by Steven C. Voorhees who purchased 10,000 shares at a cost of $59.21 each, for a total investment of $592,080. Truist Financial is trading up about 4.2% on the day Tuesday. Bargain hunters can grab TFC even cheaper than Voorhees did, with shares changing hands as low as $56.26 in trading on Tuesday -- that's 5.0% under Voorhees's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.