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.
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 Mercury General, a filing with the SEC revealed that on Friday, Chairman of the Board George Joseph bought 29,883 shares of MCY, for a cost of $35.59 each, for a total investment of $1.06M.
Joseph was up about 3.1% on the buy at the high point of today's trading session, with MCY trading as high as $36.71 at last check today.
Mercury General is trading off about 1.5% on the day Wednesday.
Before this latest buy, Joseph made one other buy in the past twelve months, purchasing $2.94M shares at a cost of $38.93 a piece.
And on Tuesday, Chief Financial Officer and EVP Geoffrey M.
Parker bought $1.05M worth of Tricida, buying 35,000 shares at a cost of $30.09 a piece.
Before this latest buy, Parker bought TCDA on 3 other occasions during the past year, for a total investment of $1.80M at an average of $32.79 per share.
Tricida is trading down about 1.3% on the day Wednesday.