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 First Mid-Illinois Bancshares, a filing with the SEC revealed that on Monday, Director Mary Westerhold purchased 15,000 shares of FMBH, for a cost of $35.00 each, for a total investment of $525,000. Thus far Westerhold is down about 0.5% on the buy, with shares changing hands as low as $34.81 in trading on Tuesday. First Mid-Illinois Bancshares is trading up about 1.6% on the day Tuesday. Before this latest buy, Westerhold made one other buy in the past twelve months, purchasing $26,766 shares at a cost of $26.77 a piece.
And also on Monday, CEO Alan R. Hoskins bought $499,983 worth of Energizer Holdings, buying 12,112 shares at a cost of $41.28 each. Energizer Holdings Inc is trading up about 0.6% on the day Tuesday. Hoskins was up about 1.0% on the buy at the high point of today's trading session, with ENR trading as high as $41.70 in trading on Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.