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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.

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.


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

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