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.
At Forian, a filing with the SEC revealed that on Friday, Martin J. Wygod purchased 30,000 shares of FORA, for a cost of $9.99 each, for a total investment of $299,640. Wygod was up about 6.6% on the purchase at the high point of today's trading session, with FORA trading as high as $10.64 in trading on Monday. Forian is trading up about 4.7% on the day Monday.
And on Thursday, CEO & President Satish Malhotra purchased $251,125 worth of Container Store Group, purchasing 420,500 shares at a cost of $12.25 each. Container Store Group, is trading off about 4% on the day Monday. Malhotra was up about 10.2% on the purchase at the high point of today's trading session, with TCS trading as high as $13.50 in trading on Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.