Crossword Genius

Personal insult loved by a miserly director? (5,4)

Ross

I believe the answer is:

cheap shot

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'personal insult loved' is the definition.
I can't tell whether this defines the answer.

'by a miserly director?' is the wordplay.
'by' is a charade indicator (letters next to each other).
'a miserly' becomes 'cheap' (I've seen this in another clue).
'director?' becomes 'shot' (I am not sure about this - if you are sure you should believe this answer much more).
'cheap'+'shot' is 'CHEAP SHOT'.

Can you help me to learn more?

(Other definitions for cheap shot that I've seen before include "Unkind act" , "Barbed comment exploiting known weakness of target" .)

I've seen this clue in The Times.
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