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.
On Friday, Mvc Capital Incorporated (NYSE:MVC)'s Chairman, Michael T. Tokarz, made a $378,300 buy of MVC, purchasing 30,000 shares at a cost of $12.61 a piece. Mvc Capital Incorporated is trading up about 1.4% on the day Tuesday. Before this latest buy, Tokarz bought MVC on 2 other occasions during the past year, for a total investment of $165,118 at an average of $12.85 per share.
And on Thursday, Director Michael Jaye Miller purchased $314,000 worth of Kinder Morgan Inc. (NYSE:KMI), purchasing 10,000 shares at a cost of $31.40 a piece. This purchase marks the first one filed by Miller in the past year. Kinder Morgan Inc. is trading up about 0.7% on the day Tuesday. So far Miller is in the green, up about 2.3% on their purchase based on today's trading high of $32.11.
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