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.
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.
At Cleveland-Cliffs, a filing with the SEC revealed that on Wednesday, CEO Lourenco Goncalves purchased 50,000 shares of CLF, for a cost of $19.77 each, for a total investment of $988,250.
So far Goncalves is in the green, up about 4.6% on their purchase based on today's trading high of $20.66.
Cleveland-Cliffs is trading up about 2.4% on the day Thursday.
And at Chegg, there was insider buying on Wednesday, by PRESIDENT, CEO & CO-CHAIRMAN Daniel Rosensweig who purchased 25,000 shares at a cost of $28.52 each, for a total investment of $712,908.
This buy marks the first one filed by Rosensweig in the past year.
Chegg is trading up about 4.7% on the day Thursday.