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 Thursday, Herman Miller's Director, Michael A. Volkema, made a $548,452 purchase of MLHR, buying 25,000 shares at a cost of $21.94 each. So far Volkema is in the green, up about 5.2% on their buy based on today's trading high of $23.08. Herman Miller is trading up about 5.1% on the day Friday.
And at Discover Financial Services, there was insider buying on Wednesday, by EVP - Chief HR & Admin Officer Robert Andrew Eichfeld who purchased 12,650 shares at a cost of $39.50 each, for a total investment of $499,675. This buy marks the first one filed by Eichfeld in the past year. Discover Financial Services is trading up about 4.1% on the day Friday. Eichfeld was up about 7.2% on the purchase at the high point of today's trading session, with DFS trading as high as $42.34 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.