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 Aspen Group, a filing with the SEC revealed that on Monday, Director Douglas Kass bought 15,750 shares of ASPU, at a cost of $5.26 each, for a total investment of $82,805. So far Kass is in the green, up about 6.3% on their purchase based on today's trading high of $5.59. Aspen Group is trading off about 4.3% on the day Wednesday.
And at Toast, there was insider buying on Friday, by Director Deval L. Patrick who purchased 1,667 shares for a cost of $40.00 each, for a trade totaling $66,680. Toast is trading up about 1.1% on the day Wednesday. Patrick was up about 32.1% on the purchase at the high point of today's trading session, with TOST trading as high as $52.86 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.