As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Monday, Nexpoint Credit Strategies Fund (NYSE:NHF)'s, James D. Dondero, made a $1.31M buy of NHF, purchasing 113,643 shares at a cost of $11.52 each. Bargain hunters have the opportunity to snag NHF at a price even lower than Dondero did, with the stock trading as low as $11.24 at last check today -- that's 2.4% below Dondero's purchase price. Nexpoint Credit Strategies Fund is trading up about 0.2% on the day Tuesday. Before this latest buy, Dondero purchased NHF on 11 other occasions during the past year, for a total cost of $13.09M at an average of $8.38 per share.
And on Thursday, John Francis Daly purchased $206,653 worth of MRC Global (NYSE:MRC), purchasing 8,000 shares at a cost of $25.83 a piece. Before this latest buy, Daly made one other buy in the past twelve months, purchasing $197,063 shares at a cost of $32.58 each. MRC Global is trading up about 0.6% on the day Tuesday. Daly was up about 1.9% on the purchase at the high point of today's trading session, with MRC trading as high as $26.32 in trading on Tuesday.
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