Monday 2/2 Insider Buying Report: IBM, MHH
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.
On Friday, International Business Machines', David N. Farr, made a $304,000 purchase of IBM, buying 1,000 shares at a cost of $304.00 a piece. So far Farr is in the green, up about 4.1% on their buy based on today's trading high of $316.42. International Business Machines is trading up about 3.1% on the day Monday. This buy marks the first one filed by Farr in the past year.
And also on Friday, Steven A. Shaw purchased $34,013 worth of Mastech Digital, purchasing 4,880 shares at a cost of $6.97 each. Before this latest buy, Shaw purchased MHH at 5 other times during the past twelve months, for a total cost of $160,567 at an average of $7.73 per share. Mastech Digital is trading up about 0.9% on the day Monday.
VIDEO: Monday 2/2 Insider Buying Report: IBM, MHH