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.
At TriState Capital Holdings (NASDAQ:TSC), a filing with the SEC revealed that on Wednesday, Director Michael J. Farrell purchased 20,000 shares of TSC, for a cost of $13.85 each, for a total investment of $276,936. Investors are able to buy TSC at a price even lower than Farrell did, with shares trading as low as $13.57 at last check today which is 2.0% under Farrell's purchase price. TriState Capital Holdings is trading off about 1.4% on the day Monday. Before this latest buy, Farrell purchased TSC at 2 other times during the past year, for a total investment of $289,706 at an average of $12.88 per share.
And on Thursday, Director Timothy L. Main purchased $253,526 worth of Quest Diagnostics (NYSE:DGX), purchasing 5,000 shares at a cost of $50.71 each. This buy marks the first one filed by Main in the past twelve months. Quest Diagnostics, Inc. is trading up about 1.4% on the day Monday. So far Main is in the green, up about 2.1% on their purchase based on today's trading high of $51.77.
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