Wednesday 5/20 Insider Buying Report: GRNT, CDW

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 Granite Ridge Resources, a filing with the SEC revealed that on Monday, Director Griffin Perry purchased 100,000 shares of GRNT, for a cost of $5.49 each, for a total investment of $549,000. So far Perry is in the green, up about 5.6% on their purchase based on today's trading high of $5.80. Granite Ridge Resources is trading down about 2.2% on the day Wednesday. This buy marks the first one filed by Perry in the past year.

And at CDW, there was insider buying on Monday, by Christine A. Leahy who purchased 4,830 shares at a cost of $103.39 each, for a trade totaling $499,398. This purchase marks the first one filed by Leahy in the past twelve months. CDW is trading up about 1.7% on the day Wednesday.

VIDEO: Wednesday 5/20 Insider Buying Report: GRNT, CDW