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 Marketaxess Holdings, a filing with the SEC revealed that on Friday, Director Richard Leon Prager bought 1,000 shares of MKTX, at a cost of $271.25 each, for a total investment of $271,245. Investors have the opportunity to pick up MKTX at a price even lower than Prager did, with the stock trading as low as $263.39 at last check today -- that's 2.9% under Prager's purchase price. Marketaxess Holdings is trading off about 1.7% on the day Tuesday. This buy marks the first one filed by Prager in the past year.
And on Thursday, Director John Donovan purchased $250,230 worth of Lockheed Martin, purchasing 568 shares at a cost of $440.55 each. This buy marks the first one filed by Donovan in the past twelve months. Lockheed Martin is trading up about 1.6% on the day Tuesday. So far Donovan is in the green, up about 2.7% on their purchase based on today's trading high of $452.32.
For MarketNewsVideo.com, I'm Sayoko Murase.