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.
On Friday, Main Street Capital's , John Earl Jackson, made a $117,585 purchase of MAIN, buying 3,000 shares at a cost of $39.20 each. Jackson was up about 1.7% on the purchase at the high point of today's trading session, with MAIN trading as high as $39.85 at last check today. Main Street Capital is trading up about 0.9% on the day Monday. Before this latest buy, Jackson made one other buy in the past year, purchasing $109,356 shares for a cost of $36.45 each.
And on Wednesday, Director Lawrence Cheng purchased $113,990 worth of GameStop, purchasing 5,000 shares at a cost of $22.80 a piece. This buy marks the first one filed by Cheng in the past year. GameStop is trading down about 1% on the day Monday.
For MarketNewsVideo.com, I'm Sayoko Murase.