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 Staples (SPLS), a filing with the SEC revealed that on Thursday, President, NAC Shira Goodman bought 5,000 shares of SPLS, at a cost of $11.44 each, for a total investment of $57,180. Staples Inc is trading up about 1.2% on the day Monday.
And at Midcoast Energy Partners (NYSE:MEP), there was insider buying on Wednesday, by Director Dan Allen Westbrook who purchased 2,500 shares at a cost of $20.42 each, for a total investment of $51,048. Before this latest buy, Westbrook made one other purchase in the past year, buying $90,000 shares for a cost of $18.00 each. Midcoast Energy Partners is trading up about 0.8% on the day Monday.
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