Wednesday 2/4 Insider Buying Report: MJN, EMC
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 Mead Johnson Nutrition ( MJN ), a filing with the SEC revealed that on Tuesday, Director James M. Cornelius purchased 10,000 shares of MJN, at a cost of $99.78 each, for a total investment of $997,758. Cornelius was up about 1.5% on the purchase at the high point of today's trading session, with MJN trading as high as $101.23 at last check today. Mead Johnson Nutrition is trading up about 0.1% on the day Wednesday. This purchase marks the first one filed by Cornelius in the past twelve months.
And at EMC Corp. ( EMC ), there was insider buying on Friday, by Director Donald J. Carty who bought 20,000 shares for a cost of $26.13 each, for a total investment of $522,600. This buy marks the first one filed by Carty in the past twelve months. EMC Corp. is trading up about 0.7% on the day Wednesday. Carty was up about 3.9% on the buy at the high point of today's trading session, with EMC trading as high as $27.16 in trading on Wednesday.