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 Tuesday, Post Properties (NYSE:PPS)'s Director, Robert C. Goddard III, made a $285,407 buy of PPS, purchasing 6,706 shares at a cost of $42.56 each. So far Goddard is in the green, up about 7.7% on their purchase based on today's trading high of $45.85.
And on Wednesday, CEO Theodore L. Koenig purchased $242,597 worth of Monroe Capital (NASDAQ:MRCC), purchasing 19,136 shares at a cost of $12.68 each. Before this latest buy, Koenig bought MRCC on 3 other occasions during the past year, for a total cost of $709,679 at an average of $13.59 per share. Monroe Capital is trading off about 0.7% on the day Friday.
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