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.
On Wednesday, Bovie Medical's Chief Commercialization Officer, John J. McCarthy III, made a $299,475 purchase of BVX, buying 90,750 shares at a cost of $3.30 each. McCarthy III was up about 46.7% on the buy at the high point of today's trading session, with BVX trading as high as $4.84 at last check today. Bovie Medical is trading up about 21.1% on the day Monday. Before this latest buy, McCarthy III made one other purchase in the past twelve months, buying $49,428 shares at a cost of $1.98 each.
And on Thursday, Director Mauricio Ramos bought $255,000 worth of Charter Communications, buying 1,000 shares at a cost of $255.00 each. Charter Communications is trading down about 0.5% on the day Monday. Bargain hunters can snag CHTR at a price even lower than Ramos did, with the stock trading as low as $250.05 in trading on Monday -- that's 1.9% below Ramos's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.