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 Phibro Animal Health Corp. (NASDAQ:PAHC), a filing with the SEC revealed that on Tuesday, Director E. Thomas Corcoran purchased 5,000 shares of PAHC, at a cost of $16.70 each, for a total investment of $83,500. So far Corcoran is in the green, up about 4.7% on their buy based on today's trading high of $17.49. Phibro Animal Health Corp. is trading up about 0.5% on the day Friday.
And on Wednesday, Director Allan H. Selig bought $33,890 worth of Oil-Dri Corp. of America (NYSE:ODC), buying 1,000 shares at a cost of $33.89 each. Before this latest buy, Selig purchased ODC at 4 other times during the past year, for a total investment of $268,880 at an average of $33.61 per share. Oil-Dri Corp. of America is trading up about 0.8% on the day Friday.
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