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, Aura Minerals’ Director, Mauad Bruno Sousa, made a $868,230 buy of AUGO, purchasing 11,000 shares at a cost of $78.93 a piece. Sousa was up about 4.9% on the purchase at the high point of today’s trading session, with AUGO trading as high as $82.82 at last check today. Aura Minerals is trading up about 7.6% on the day Wednesday. Before this latest buy, Sousa made one other purchase in the past year, buying $181,860 shares for a cost of $64.95 each.
And at Compass Diversified, there was insider buying on Friday, by Glenn R. Richter who purchased 38,051 shares for a cost of $13.14 each, for a total investment of $499,986. Compass Diversified is trading up about 0.1% on the day Wednesday. Bargain hunters are able to bag CODI at a price even lower than Richter did, with shares changing hands as low as $11.89 in trading on Wednesday which is 9.5% under Richter’s purchase price.
VIDEO: Wednesday 8/19 Insider Buying Report: AUGO, CODI
