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 Macerich (MAC), a filing with the SEC revealed that on Tuesday, Director Andrea M. Stephen purchased 20,000 shares of MAC, at a cost of $35.02 each, for a total investment of $700,300. Macerich is trading up about 1.4% on the day Thursday. This buy marks the first one filed by Stephen in the past year.
And at NGL Energy Partners LP (NGL), there was insider buying on Wednesday, by Chief Executive Officer H. Michael Krimbill who bought 25,000 shares at a cost of $14.53 each, for a trade totaling $363,143. Before this latest buy, Krimbill bought NGL at 2 other times during the past year, for a total cost of $520,569 at an average of $10.41 per share. NGL Energy Partners LP is trading off about 0.3% on the day Thursday.