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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Thornburg Income Builder Opportunities Trust, a filing with the SEC revealed that on Wednesday, President Jason H. Brady purchased 52,000 shares of TBLD, at a cost of $18.83 each, for a total investment of $979,032. So far Brady is in the green, up about 1.1% on their purchase based on today's trading high of $19.04. Thornburg Income Builder Opportunities Trust is trading off about 0.6% on the day Monday.
And on Friday, Martin J. Wygod purchased $115,076 worth of Forian, purchasing 14,573 shares at a cost of $7.90 a piece. Before this latest buy, Wygod bought FORA at 9 other times during the past year, for a total cost of $947,710 at an average of $9.59 per share. Forian is trading off about 1% on the day Monday.
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