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 Worthington Enterprises, a filing with the SEC revealed that on Thursday, Michael J. Endres bought 10,000 shares of WOR, for a cost of $52.95 each, for a total investment of $529,500. Worthington Enterprises Inc is trading up about 3.1% on the day Friday. This buy marks the first one filed by Endres in the past twelve months.
And at Msc Income Fund, there was insider buying on Tuesday, by John O. Niemann Jr. who purchased 2,000 shares at a cost of $13.75 each, for a total investment of $27,500. Before this latest buy, Niemann Jr. made one other buy in the past twelve months, purchasing $59,021 shares at a cost of $13.92 each. Msc Income Fund is trading off about 0.4% on the day Friday. Bargain hunters can snag MSIF at a price even lower than Niemann Jr. did, with shares changing hands as low as $13.52 in trading on Friday -- that's 1.7% under Niemann Jr.'s purchase price.
VIDEO: Friday 9/26 Insider Buying Report: WOR, MSIF
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