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 Cree (CREE), a filing with the SEC revealed that on Thursday, Director John B. Replogle purchased 5,000 shares of CREE, for a cost of $22.34 each, for a total investment of $111,700. Cree is trading down about 0.8% on the day Friday. Before this latest buy, Replogle bought CREE on 2 other occasions during the past year, for a total cost of $233,130 at an average of $23.31 per share.
And at Bazaarvoice (BV), there was insider buying on Tuesday, by Director Jeff Hawn who purchased 952 shares for a cost of $5.30 each, for a total investment of $5,046. Before this latest buy, Hawn bought BV at 5 other times during the past twelve months, for a total cost of $29,981 at an average of $5.22 per share. Bazaarvoice is trading off about 0.9% on the day Friday.
