Thursday 2/5 Insider Buying Report: PCF, AGYS
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 Putnam High Income Securities Fund, a filing with the SEC revealed that on Tuesday, Director Phillip Goldstein bought 17,514 shares of PCF, at a cost of $6.05 each, for a total investment of $105,960. Putnam High Income Securities Fund is trading up about 0.3% on the day Thursday. Before this latest buy, Goldstein made one other purchase in the past year, buying $34,820 shares for a cost of $6.02 each.
And at Agilysys, there was insider buying on Tuesday, by Melvin L. Keating who purchased 600 shares at a cost of $83.96 each, for a trade totaling $50,379. Agilysys is trading down about 2.2% on the day Thursday. Keating was up about 5.9% on the buy at the high point of today's trading session, with AGYS trading as high as $88.92 in trading on Thursday.
VIDEO: Thursday 2/5 Insider Buying Report: PCF, AGYS