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 Old Second Bancorp (NASDAQ:OSBC), a filing with the SEC revealed that on Tuesday, Director Edward Bonifas purchased 68,181 shares of OSBC, at a cost of $4.40 each, for a total investment of $299,996. So far Bonifas is in the green, up about 12.3% on their purchase based on today's trading high of $4.94. Old Second Bancorp is trading up about 2.4% on the day Wednesday.
And at Equus Total Return (NYSE:EQS), there was insider buying on Monday, by Director Robert L. Knauss who purchased 10,000 shares for a cost of $1.88 each, for a trade totaling $18,800. Equus Total Return is trading up about 3.6% on the day Wednesday. Knauss was up about 10.1% on the purchase at the high point of today's trading session, with EQS trading as high as $2.07 in trading on Wednesday.
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