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, Marathon Petroleum (NYSE:MPC)'s Director, James E. Rohr, made a $449,632 purchase of MPC, buying 6,300 shares at a cost of $71.37 a piece. Marathon Petroleum is trading down about 0.4% on the day Wednesday.
And at RadioShack (NYSE:RSH), there was insider buying on Monday, by Director Robert E. Abernathy who bought 100,000 shares at a cost of $2.55 each, for a total investment of $255,011. This buy marks the first one filed by Abernathy in the past year. RadioShack is trading up about 1.9% on the day Wednesday.
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