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 Friday, A-Mark Precious Metals' Director, Kendall Saville, made a $281,706 purchase of AMRK, buying 4,857 shares at a cost of $58.00 a piece. Investors have the opportunity to buy AMRK at a price even lower than Saville did, with shares changing hands as low as $56.73 at last check today -- that's 2.2% under Saville's purchase price. A-Mark Precious Metals is trading down about 1.4% on the day Tuesday. This buy marks the first one filed by Saville in the past twelve months.
And also on Friday, SVP General Counsel David Mitchell Benck purchased $148,676 worth of Hibbett, purchasing 2,000 shares at a cost of $74.34 each. Before this latest buy, Benck made one other buy in the past twelve months, purchasing $175,540 shares for a cost of $87.77 each. Hibbett is trading down about 0.4% on the day Tuesday. So far Benck is in the green, up about 5.7% on their purchase based on today's trading high of $78.59.
For MarketNewsVideo.com, I'm Sayoko Murase.