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 CF Industries Holdings ( CF ), a filing with the SEC revealed that on Tuesday, Director Robert C. Arzbaecher bought 21,600 shares of CF, at a cost of $ 23.25 each, for a total investment of $ 502,105. CF Industries Holdings is trading down about 1.5% on the day Thursday. Before this latest buy, Arzbaecher made one other purchase in the past twelve months, buying $ 485,386 shares for a cost of $ 28.10 a piece. And on Monday, Director Jackson P. Tai purchased $ 464,348 worth of Eli Lilly & Co. ( LLY ), purchasing 5,773 shares at a cost of $ 80.43 each. Before this latest buy, Tai purchased LLY at 2 other times during the past twelve months, for a total cost of $ 331,035 at an average of $ 77.89 per share. Eli Lilly & Co. is trading down about 0.3% on the day Thursday. So far Tai is down about 0.7% on the purchase, with the stock changing hands as low as $ 79.85 in trading on Thursday.
VIDEO: Thursday 8/18 Insider Buying Report: CF, LLY The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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