Friday 7/13 Insider Buying Report: TCRD, MVC Friday, July 13, 10:31 AM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let's look at two noteworthy recent insider buys.
At THL Credit (TCRD), a filing with the SEC revealed that on Monday, CFO Terrence W. Olson purchased 56,409 shares of TCRD, for a cost of $8.18 each, for a total investment of $461,217. Investors are able to snag TCRD at a price even lower than Olson did, with shares trading as low as $8.08 at last check today — that's 1.2% below Olson's purchase price. THL Credit is trading off about 0.7% on the day Friday. Before this latest buy, Olson purchased TCRD on 12 other occasions during the past year, for a total cost of $5.98M at an average of $7.92 per share.
And at MVC Capital (MVC), there was insider buying on Tuesday, by Chairman Michael T. Tokarz who purchased 5,000 shares for a cost of $9.36 each, for a total investment of $46,800. Before this latest buy, Tokarz bought MVC at 6 other times during the past twelve months, for a total investment of $495,148 at an average of $10.13 per share. MVC Capital is trading trading flat on the day Friday. So far Tokarz is in the green, up about 1.9% on their buy based on today's trading high of $9.54.
For MarketNewsVideo.com, I'm Sayoko Murase.
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