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, a filing with the SEC revealed that on Thursday, President Edward C. Coppola bought 60,000 shares of MAC, at a cost of $8.75 each, for a total investment of $525,000. Macerich is trading up about 2.6% on the day Tuesday. Before this latest buy, Coppola bought MAC at 3 other times during the past twelve months, for a total investment of $594,548 at an average of $11.41 per share.
And at FedEx, there was insider buying on Thursday, by Director Amy B. Lane who bought 607 shares at a cost of $228.12 each, for a total investment of $138,467. This purchase marks the first one filed by Lane in the past year. FedEx is trading up about 2.1% on the day Tuesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
