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.
On Wednesday, Nexpoint Credit Strategies Fund (NYSE:NHF)'s , James D. Dondero, made a $1.24M purchase of NHF, buying 162,623 shares at a cost of $7.61 a piece. Investors are able to bag NHF at a price even lower than Dondero did, with shares trading as low as $7.37 at last check today which is 3.1% below Dondero's purchase price. Nexpoint Credit Strategies Fund is trading up about 1.4% on the day Monday. Before this latest buy, Dondero bought NHF at 11 other times during the past twelve months, for a total investment of $12.27M at an average of $7.13 per share.
And at Dick's Sporting Goods (NYSE:DKS), there was insider buying on Wednesday, by CFO Andre J. Hawaux who bought 6,400 shares at a cost of $47.25 each, for a total investment of $302,400. This purchase marks the first one filed by Hawaux in the past twelve months. Dick's Sporting Goods is trading up about 1.2% on the day Monday. Bargain hunters have the opportunity to bag DKS even cheaper than Hawaux did, with shares changing hands as low as $46.44 at last check today which is 1.7% under Hawaux's purchase price.
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