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 Medley Capital, a filing with the SEC revealed that on Tuesday, Director Seth Taube purchased 382,300 shares of MCC, for a cost of $7.25 each, for a total investment of $2.77M. Bargain hunters can pick up MCC even cheaper than Taube did, with shares trading as low as $7.01 at last check today which is 3.4% under Taube's purchase price. Medley Capital is trading up about 0.7% on the day Wednesday. Before this latest buy, Taube purchased MCC on 4 other occasions during the past twelve months, for a total cost of $4.01M at an average of $7.55 per share.
And on Monday, Director Richard Abbe purchased $320,755 worth of Form Holdings, purchasing 152,005 shares at a cost of $2.11 each. Form Holdings is trading off about 0.9% on the day Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
