Friday 8/7 Insider Buying Report: CATY, SLB

Friday 8/7 Insider Buying Report: CATY, SLB

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.

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.

On Tuesday, Cathay General Bancorp's Director, Richard Sun, made a $423,000 buy of CATY, purchasing 14,100 shares at a cost of $30.00 a piece.

Investors have the opportunity to bag CATY even cheaper than Sun did, with shares changing hands as low as $24.80 in trading on Friday which is 17.3% below Sun's purchase price.

Cathay General Bancorp is trading up about 1.1% on the day Friday.

This buy marks the first one filed by Sun in the past year.

And at Schlumberger, there was insider buying on Wednesday, by Director Mark G.

Papa who bought 15,000 shares at a cost of $19.46 each, for a total investment of $291,874.

Schlumberger is trading trading flat on the day Friday.

Bargain hunters are able to grab SLB at a price even lower than Papa did, with the stock trading as low as $19.02 at last check today which is 2.3% below Papa's purchase price.