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.
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 Swiss Helvetia Fund , a filing with the SEC revealed that on Tuesday, Director Phillip Goldstein purchased 25,000 shares of SWZ, for a cost of $8.39 each, for a total investment of $209,700.
Investors can snag SWZ even cheaper than Goldstein did, with shares trading as low as $8.29 in trading on Wednesday -- that's 1.2% below Goldstein's purchase price.
Swiss Helvetia Fund is trading off about 0.1% on the day Wednesday.
Before this latest buy, Goldstein purchased SWZ on 4 other occasions during the past twelve months, for a total investment of $604,561 at an average of $8.14 per share.
And on Monday, EVP of International Markets Benjamin Skuy bought $157,150 worth of KAR Auction Services, buying 7,000 shares at a cost of $22.45 a piece.
This purchase marks the first one filed by Skuy in the past year.
KAR Auction Services is trading up about 0.9% on the day Wednesday.
Bargain hunters are able to pick up KAR at a price even lower than Skuy did, with the stock changing hands as low as $20.77 in trading on Wednesday which is 7.5% under Skuy's purchase price.