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 one noteworthy recent insider buy.
On Wednesday, Director Fredrick Schaufeld purchased $979,066 worth of Telos, purchasing 247,005 shares at a cost of $3.96 a piece. Before this latest buy, Schaufeld bought TLS at 2 other times during the past year, for a total cost of $270,681 at an average of $3.15 per share. Telos Corp. is trading down about 0.5% on the day Thursday. So far Schaufeld is in the green, up about 9.7% on their buy based on today’s trading high of $4.35.
VIDEO: Thursday 5/23 Insider Buying Report: TLS
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