Friday 1/20 Insider Buying Report: MG, PGLC

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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 Mistras Group ( MG ), a filing with the SEC revealed that on Thursday, Director Nicholas Debenedictis bought 5,000 shares of MG, at a cost of $22.64 each, for a total investment of $113,175. So far Debenedictis is in the green, up about 3.7% on their buy based on today's trading high of $23.48. Mistras Group is trading up about 3.2% on the day Friday. Before this latest buy, Debenedictis made one other buy in the past year, purchasing $101,250 shares at a cost of $20.25 a piece.

And at Pershing Gold Corp ( PGLC ), there was insider buying on Tuesday, by Director Douglass Scott Barr who bought 3,500 shares for a cost of $3.33 each, for a total investment of $11,646. Before this latest buy, Barr bought PGLC at 2 other times during the past year, for a total investment of $26,075 at an average of $4.01 per share. Pershing Gold Corp is trading down about 0.6% on the day Friday. Investors have the opportunity to grab PGLC even cheaper than Barr did, with shares changing hands as low as $3.18 in trading on Friday which is 4.4% below Barr's purchase price.

Friday 1/20 Insider Buying Report: MG, PGLC VIDEO: Friday 1/20 Insider Buying Report: MG, PGLC

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing
Referenced Symbols: MG , PGLC

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