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 one noteworthy recent insider buy.
At Marchex, there was insider buying on Tuesday, by Chief Executive Officer Edwin A. Miller who purchased 200,000 shares for a cost of $1.36 each, for a trade totaling $272,000. Before this latest buy, Miller purchased MCHX on 3 other occasions during the past year, for a total investment of $24,996 at an average of $1.38 per share. Marchex is trading up about 13.2% on the day Thursday. So far Miller is in the green, up about 20.6% on their purchase based on today's trading high of $1.64.
VIDEO: Thursday 6/6 Insider Buying Report: MCHX
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