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 Apogee Enterprises, a filing with the SEC revealed that on Monday, Sr VP Business Dev & Strategy Brent C. Jewell purchased 2,000 shares of APOG, at a cost of $31.10 each, for a total investment of $62,200. So far Jewell is in the green, up about 5.0% on their buy based on today's trading high of $32.67. Apogee Enterprises is trading up about 1.1% on the day Thursday.
And at HireQuest, there was insider buying on Monday, by R. Rimmy Malhotra who purchased 7,500 shares for a cost of $6.64 each, for a trade totaling $49,825. Before this latest buy, Malhotra purchased HQI on 2 other occasions during the past twelve months, for a total investment of $138,231 at an average of $6.65 per share. HireQuest is trading off about 0.9% on the day Thursday. So far Malhotra is in the green, up about 3.1% on their buy based on today's trading high of $6.85.
For MarketNewsVideo.com, I'm Sayoko Murase.