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.
On Thursday, Ollie's Bargain Outlet Holdings ( OLLI )'s Director, Robert Fisch, made a $81,250 buy of OLLI, purchasing 5,000 shares at a cost of $16.25 each. Fisch was up about 2.3% on the purchase at the high point of today's trading session, with OLLI trading as high as $16.62 at last check today. Ollie's Bargain Outlet Holdings is trading off about 0.8% on the day Tuesday. This purchase marks the first one filed by Fisch in the past twelve months.
And on Friday, Director William H. Shea Jr. purchased $77,140 worth of Kayne Anderson MLP Investment Company ( KYN ), purchasing 3,500 shares at a cost of $22.04 each. Kayne Anderson MLP Investment Company is trading up about 0.5% on the day Tuesday. Shea Jr. was up about 8.9% on the buy at the high point of today's trading session, with KYN trading as high as $24.00 in trading on Tuesday.