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 Paramount Gold & Silver (AMEX:PZG), a filing with the SEC revealed that on Friday, CEO Christopher Crupi bought 15,000 shares of PZG, at a cost of $2.31 each, for a total investment of $34,650. Paramount Gold & Silver Corp is trading up about 4% on the day Friday. Before this latest buy, Crupi purchased PZG at 2 other times during the past twelve months, for a total cost of $221,123 at an average of $2.21 per share.
And on Wednesday, Director John F. Donnelly bought $18,060 worth of Mercantile Bank (NASDAQ:MBWM), buying 1,200 shares at a cost of $15.05 a piece. This purchase marks the first one filed by Donnelly in the past twelve months. Mercantile Bank Corp. is trading trading flat on the day Friday.
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