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 Monro, a filing with the SEC revealed that on Friday, CEO & President Michael T. Broderick purchased 10,000 shares of MNRO, for a cost of $62.24 each, for a total investment of $622,362. Broderick was up about 4.3% on the purchase at the high point of today's trading session, with MNRO trading as high as $64.94 at last check today. Monro is trading up about 0.9% on the day Wednesday.
And also on Friday, Director William Jennings Kacal purchased $154,425 worth of US Silica Holdings, purchasing 15,000 shares at a cost of $10.29 each. Before this latest buy, Kacal made one other buy in the past year, purchasing $316,485 shares for a cost of $10.55 a piece. US Silica Holdings is trading up about 7.4% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.