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 Bats Global Markets (BATS), a filing with the SEC revealed that on Wednesday, CEO Christopher R. Concannon bought 25,000 shares of BATS, for a cost of $19.00 each, for a total investment of $475,000. Concannon was up about 22.5% on the purchase at the high point of today's trading session, with BATS trading as high as $23.28 at last check today. Bats Global Markets is trading up about 0.6% on the day Thursday. This buy marks the first one filed by Concannon in the past twelve months.
And on Monday, Director William J. Schneider bought $49,924 worth of Nuveen Ohio Quality Income Municipal Fund ( NUO ), buying 3,130 shares at a cost of $15.95 a piece. Before this latest buy, Schneider made one other buy in the past twelve months, purchasing $249,906 shares for a cost of $14.83 each. Nuveen Ohio Quality Income Municipal Fund is trading trading flat on the day Thursday.