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.
At Valvoline ( VVV ), a filing with the SEC revealed that on Monday, Chief Executive Officer Samuel J. Mitchell bought 25,000 shares of VVV, for a cost of $20.78 each, for a total investment of $519,500. Valvoline is trading up about 1.8% on the day Wednesday.
And on Tuesday, CFO Henri J. Steenkamp bought $26,576 worth of Saratoga Investment ( SAR ), buying 1,208 shares at a cost of $22.00 a piece. Saratoga Investment is trading down about 0.3% on the day Wednesday. So far Steenkamp is down about 0.9% on the buy, with the stock trading as low as $21.80 in trading on Wednesday.