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 one noteworthy recent insider buy.
At MVC Capital Incorporated (MVC), a filing with the SEC revealed that on Monday, Chairman Michael T. Tokarz bought 82,500 shares of MVC, at a cost of $12.17 each, for a total investment of $1.00M. Investors are able to buy MVC at a price even lower than Tokarz did, with the stock changing hands as low as $12.01 at last check today -- that's 1.3% below Tokarz's purchase price. Mvc Capital Incorporated is trading up about 0.7% on the day Thursday. Before this latest buy, Tokarz bought MVC on 3 other occasions during the past twelve months, for a total cost of $543,418 at an average of $12.68 per share.
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