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 Central Securities, a filing with the SEC revealed that on Tuesday, Director David Martin Poppe purchased 5,000 shares of CET, for a cost of $34.19 each, for a total investment of $170,930. Poppe was up about 1.0% on the buy at the high point of today's trading session, with CET trading as high as $34.52 at last check today. Central Securities is trading up about 1.3% on the day Wednesday. This buy marks the first one filed by Poppe in the past year.
And on Friday, Director Gerrit Livingston Lansing Jr. bought $54,760 worth of Enviva, buying 2,000 shares at a cost of $27.38 each. This buy marks the first one filed by Lansing Jr. in the past twelve months. Enviva is trading off about 2.6% on the day Wednesday.
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