Friday 2/6 Insider Buying Report: MCBC, TUES Friday, February 6, 10:40 AM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Macatawa Bank (MCBC), a filing with the SEC revealed that on Thursday, Director Richard L. Postma purchased 33,177 shares of MCBC, at a cost of $5.48 each, for a total investment of $181,810. Macatawa Bank is trading up about 1.3% on the day Friday. Before this latest buy, Postma made one other buy in the past twelve months, purchasing $235,714 shares for a cost of $4.95 a piece.
And at Tuesday Morning (TUES), there was insider buying on Wednesday, by CFO Jeffrey N. Boyer who bought 10,000 shares for a cost of $17.94 each, for a trade totaling $179,380. Before this latest buy, Boyer bought TUES on 2 other occasions during the past year, for a total investment of $83,450 at an average of $16.69 per share. Tuesday Morning is trading up about 4.3% on the day Friday. So far Boyer is in the green, up about 7.6% on their purchase based on today's trading high of $19.31.
For MarketNewsVideo.com, I'm Sayoko Murase.
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