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 Murphy Oil Corp (NYSE:MUR), a filing with the SEC revealed that on Friday, Director Claiborne P. Deming purchased 20,000 shares of MUR, at a cost of $60.37 each, for a total investment of $1.21M. Murphy Oil Corp is trading up about 0.8% on the day Monday. Before this latest buy, Deming purchased MUR at 2 other times during the past twelve months, for a total investment of $3.25M at an average of $59.13 per share.
And at Capitala Finance Corporation (CPTA), there was insider buying on Thursday, by Joseph B. Alala III who purchased 55,118 shares at a cost of $18.04 each, for a trade totaling $994,406. Before this latest buy, Alala III made one other purchase in the past twelve months, buying $199,491 shares for a cost of $19.00 a piece. Capitala Finance Corporation is trading up about 0.2% on the day Monday. Alala III was up about 2.0% on the purchase at the high point of today's trading session, with CPTA trading as high as $18.40 in trading on Monday.
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