Tuesday 3/31 Insider Buying Report: UE, MTEX Tuesday, March 31, 1:39 PM ET
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.
On Friday, Ubran Edge Properties (UE)'s Chief Operating Officer, Robert Minutoli, made a $241,296 buy of UE, purchasing 10,000 shares at a cost of $24.13 a piece. Bargain hunters are able to bag UE even cheaper than Minutoli did, with the stock changing hands as low as $23.71 in trading on Tuesday -- that's 1.7% under Minutoli's purchase price. Ubran Edge Properties is trading up about 0.1% on the day Tuesday. This buy marks the first one filed by Minutoli in the past twelve months.
And at Mannatech (MTEX), there was insider buying on Monday, by Director Marlin Ray Robbins who bought 5,000 shares for a cost of $18.98 each, for a trade totaling $94,900. This buy marks the first one filed by Robbins in the past year. Mannatech is trading up about 0.8% on the day Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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