Friday 5/1 Insider Buying Report: MJN, CZNC Friday, May 1, 10:35 AM 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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Mead Johnson Nutrition (MJN), a filing with the SEC revealed that on Thursday, Director Howard B. Bernick purchased 4,000 shares of MJN, at a cost of $96.33 each, for a total investment of $385,314. Mead Johnson Nutrition is trading up about 0.3% on the day Friday. This buy marks the first one filed by Bernick in the past twelve months.
And also on Thursday, CEO J. Bradley Scovill purchased $130,585 worth of Citizens & Northern Corp (CZNC), purchasing 6,500 shares at a cost of $20.09 each. Before this latest buy, Scovill bought CZNC at 2 other times during the past twelve months, for a total cost of $40,470 at an average of $20.23 per share. Citizens & Northern Corp is trading up about 0.8% on the day Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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