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 Blue Foundry Bancorp, a filing with the SEC revealed that on Monday, Director Robert Thomas Goldstein purchased 17,500 shares of BLFY, at a cost of $13.56 each, for a total investment of $237,318. So far Goldstein is in the green, up about 2.6% on their buy based on today's trading high of $13.92. Blue Foundry Bancorp is trading off about 0.2% on the day Thursday. Before this latest buy, Goldstein made one other buy in the past twelve months, purchasing $92,700 shares at a cost of $12.36 a piece.
And at Phibro Animal Health, there was insider buying on Monday, by Director E. Thomas Corcoran who purchased 5,000 shares for a cost of $23.68 each, for a total investment of $118,400. Phibro Animal Health is trading up about 5.2% on the day Thursday. Corcoran was up about 7.8% on the buy at the high point of today's trading session, with PAHC trading as high as $25.53 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.