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 two noteworthy recent insider buys.
At Ares Multi Strategy Credit Fund (NYSE:ARMF), a filing with the SEC revealed that on Thursday, Antony P. Ressler bought 17,000 shares of ARMF, at a cost of $21.84 each, for a total investment of $371,203. So far Ressler is in the green, up about 0.4% on their purchase based on today's trading high of $21.92. Ares Multi Strategy Credit Fund is trading off about 0.3% on the day Monday. Before this latest buy, Ressler made one other buy in the past twelve months, purchasing $2M shares for a cost of $25.00 a piece.
And also on Thursday, Director E. Nelson Heumann bought $77,300 worth of Einstein Noah Restaurant Group (NASDAQ:BAGL), buying 5,000 shares at a cost of $15.46 a piece. Before this latest buy, Heumann made one other buy in the past year, purchasing $84,885 shares at a cost of $15.68 a piece. Einstein Noah Restaurant Group is trading up about 0.4% on the day Monday. Heumann was up about 0.7% on the purchase at the high point of today's trading session, with BAGL trading as high as $15.57 in trading on Monday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.