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 Thursday, TCW Strategic Income Fund (NYSE:TSI)'s Portfolio Manager, Tad Rivelle, made a $379,731 buy of TSI, purchasing 71,190 shares at a cost of $5.33 each. TCW Strategic Income Fund is trading up about 0.3% on the day Friday. Before this latest buy, Rivelle purchased TSI at 7 other times during the past year, for a total cost of $558,392 at an average of $5.31 per share.
And at VeriFone Systems (NYSE:PAY), there was insider buying on Tuesday, by CFO Marc E. Rothman who purchased 10,000 shares at a cost of $28.67 each, for a total investment of $286,700. VeriFone Systems is trading up about 0.4% on the day Friday.
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