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.
On Monday, State Auto Financial's Senior Vice President, Kim Burton Garland, made a $118,737 buy of STFC, purchasing 7,853 shares at a cost of $15.12 a piece. So far Garland is in the green, up about 6.2% on their buy based on today's trading high of $16.05. State Auto Financial is trading up about 2.1% on the day Wednesday. Before this latest buy, Garland bought STFC at 7 other times during the past twelve months, for a total investment of $812,405 at an average of $19.74 per share.
And on Tuesday, Director R. John Fletcher purchased $100,089 worth of Repro Med Systems, purchasing 22,327 shares at a cost of $4.48 a piece. This buy marks the first one filed by Fletcher in the past twelve months. Repro Med Systems, is trading up about 5.6% on the day Wednesday. Fletcher was up about 18.5% on the purchase at the high point of today's trading session, with KRMD trading as high as $5.31 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.