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, Mexico Fund (NYSE:MXF)'s Director, Marc J. Shapiro, made a $561,290 buy of MXF, purchasing 20,000 shares at a cost of $28.06 each. Shapiro was up about 0.6% on the purchase at the high point of today's trading session, with MXF trading as high as $28.24 at last check today. Mexico Fund is trading up about 0.4% on the day Wednesday. This purchase marks the first one filed by Shapiro in the past year.
And also on Friday, Director A. Clayton Perfall purchased $501,397 worth of Colfax (NYSE:CFX), purchasing 7,447 shares at a cost of $67.33 a piece. This purchase marks the first one filed by Perfall in the past twelve months. Colfax is trading up about 0.7% on the day Wednesday. So far Perfall is in the green, up about 2.1% on their purchase based on today's trading high of $68.72.
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