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 Medley Capital, a filing with the SEC revealed that on Thursday, Director Seth Taube purchased 115,100 shares of MCC, for a cost of $7.60 each, for a total investment of $874,601. So far Taube is in the green, up about 2.0% on their buy based on today's trading high of $7.75. Medley Capital Corporation is trading up about 1.7% on the day Friday. Before this latest buy, Taube purchased MCC at 6 other times during the past twelve months, for a total cost of $8.79M at an average of $7.36 per share.
And also on Thursday, PRESIDENT/CEO Lynn A. Peterson bought $294,426 worth of Synergy Resources, buying 49,071 shares at a cost of $6.00 a piece. This purchase marks the first one filed by Peterson in the past twelve months. Synergy Resources is trading up about 0.5% on the day Friday. Peterson was up about 13.8% on the buy at the high point of today's trading session, with SYRG trading as high as $6.83 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.