Wednesday 1/18 Insider Buying Report: CUBA, NWY
The Online Investor - Wed., Jan. 18, 10:31 AM
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 Herzfeld Caribbean Basin Fund (CUBA), a filing with the SEC revealed that on Tuesday, Director Thomas J. Herzfeld bought 7,726 shares of CUBA, for a cost of $6.48 each, for a total investment of $50,048. So far Herzfeld is in the green, up about 0.8% on their purchase based on today's trading high of $6.53. Herzfeld Caribbean Basin Fund is trading up about 0.5% on the day Wednesday. Before this latest buy, Herzfeld made one other buy in the past twelve months, purchasing $1,081 shares at a cost of $6.76 each.
And at New York & Company (NWY), there was insider buying on Friday, by COO John M. Worthington who bought 11,500 shares for a cost of $2.22 each, for a trade totaling $25,530. Before this latest buy, Worthington made one other purchase in the past year, buying $15,840 shares for a cost of $2.20 each. New York & Company is trading up about 0.9% on the day Wednesday.