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 Wednesday, Contango Oil & Gas Co. (MCF)'s Director, John B. Juneau, made a $498,550 purchase of MCF, buying 12,250 shares at a cost of $40.70 a piece. Bargain hunters have the opportunity to grab MCF even cheaper than Juneau did, with shares changing hands as low as $38.82 at last check today which is 4.6% below Juneau's purchase price. Contango Oil & Gas Co. is trading up about 2.2% on the day Monday. Before this latest buy, Juneau made one other purchase in the past twelve months, buying $2.28M shares for a cost of $49.53 each.
And on Friday, Director Larry Mathis purchased $250,550 worth of Healthcare Trust Of America Inc (HTA), purchasing 25,000 shares at a cost of $10.02 each. Healthcare Trust Of America Inc is trading down about 0.7% on the day Monday. Investors have the opportunity to bag HTA at a price even lower than Mathis did, with the stock trading as low as $9.75 at last check today -- that's 2.7% below Mathis's purchase price.
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