Thursday 3/6 Insider Buying Report: MAC, CABO
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 Macerich, a filing with the SEC revealed that on Tuesday, CEO Jackson Hsieh bought 56,000 shares of MAC, for a cost of $17.75 each, for a total investment of $993,832. Macerich is trading off about 2.6% on the day Thursday. Before this latest buy, Hsieh made one other purchase in the past twelve months, buying $2M shares at a cost of $14.26 a piece.
And on Wednesday, Director Wallace R. Weitz bought $982,020 worth of Cable One, buying 4,000 shares at a cost of $245.50 a piece. Before this latest buy, Weitz made one other purchase in the past twelve months, buying $369,980 shares at a cost of $369.98 a piece. Cable One is trading up about 4.9% on the day Thursday. Weitz was up about 10.2% on the buy at the high point of today's trading session, with CABO trading as high as $270.56 at last check today.
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