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 Orthofix Medical (OFIX), a filing with the SEC revealed that on Thursday, Director Ronald A. Matricaria purchased 20,000 shares of OFIX, for a cost of $42.27 each, for a total investment of $845,305. So far Matricaria is in the green, up about 7.1% on their purchase based on today's trading high of $45.28. Orthofix Medical is trading up about 5.1% on the day Tuesday.
And on Friday, Chief Investment Officer Andrew T. Feldstein bought $546,835 worth of Assured Guaranty (AGO), buying 11,565 shares at a cost of $47.28 a piece. Before this latest buy, Feldstein purchased AGO at 8 other times during the past year, for a total cost of $9.03M at an average of $45.47 per share. Assured Guaranty is trading up about 0.6% on the day Tuesday. So far Feldstein is in the green, up about 1.0% on their buy based on today's trading high of $47.76.