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 a noteworthy recent insider buy.
At KCG Holdings (NYSE:KCG), a filing with the SEC revealed that on Monday, Chief Executive Officer Daniel Coleman purchased 805,000 shares of KCG, for a cost of $11.04 each, for a total investment of $8.89M. Coleman was up about 3.3% on the buy at the high point of today's trading session, with KCG trading as high as $11.41 at last check today.
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