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.
At Matador Resources Company (NYSE:MTDR), a filing with the SEC revealed that on Tuesday, Chairman, CEO and President Joseph Wm Foran bought 5,000 shares of MTDR, at a cost of $9.98 each, for a total investment of $49,900. So far Foran is in the green, up about 2.9% on their purchase based on today's trading high of $10.27. Matador Resources Company is trading up about 1.4% on the day Wednesday. Before this latest buy, Foran bought MTDR on 7 other occasions during the past year, for a total cost of $2.39M at an average of $11.46 per share.
And at City Holding Co. (NASDAQ:CHCO), there was insider buying on Friday, by Director Tracy W. Hylton II who bought 1,400 shares at a cost of $34.30 each, for a total investment of $48,020. City Holding Co. is trading up about 0.3% on the day Wednesday.
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