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 Monday, Citigroup (NYSE:C)'s Director, Michael E. Oneill, made a $1.00M buy of C, purchasing 28,200 shares at a cost of $35.52 each. Citigroup Inc is trading up about 0.7% on the day Thursday.
And on Wednesday, President Rajneesh Vig purchased $149,900 worth of TCP Capital Corporation (NASDAQ:TCPC), purchasing 10,000 shares at a cost of $14.99 each. Before this latest buy, Vig made one other purchase in the past twelve months, buying $102,801 shares at a cost of $14.69 each. Tcp Capital Corporation is trading up about 1.4% on the day Thursday. Vig was up about 1.5% on the buy at the high point of today's trading session, with TCPC trading as high as $15.22 at last check today.
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