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 Teledyne Technologies, a filing with the SEC revealed that on Friday, Executive Chairman Robert Mehrabian purchased 10,000 shares of TDY, for a cost of $366.05 each, for a total investment of $3.66M. Teledyne Technologies is trading up about 3.7% on the day Monday. This buy marks the first one filed by Mehrabian in the past year.
And also on Friday, President Christopher D. Clark purchased $86,240 worth of Royce Micro-cap Trust, purchasing 8,000 shares at a cost of $10.78 each. Before this latest buy, Clark made one other buy in the past year, purchasing $84,000 shares at a cost of $8.40 each. Royce Micro-cap Trust is trading up about 1.4% on the day Monday. Thus far Clark is down about 0.6% on the buy, with shares trading as low as $10.71 in trading on Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.