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.
On Tuesday, Gladstone Capital (NASDAQ:GLAD)'s President, Robert L. Marcotte, made a $201,664 buy of GLAD, purchasing 20,655 shares at a cost of $9.76 a piece. So far Marcotte is in the green, up about 2.1% on their purchase based on today's trading high of $9.97. Gladstone Capital is trading up about 0.8% on the day Thursday. Before this latest buy, Marcotte made one other buy in the past twelve months, purchasing $186,099 shares at a cost of $9.39 a piece.
And also on Tuesday, Michelle Berrey bought $200,004 worth of Chimerix (NASDAQ:CMRX), buying 14,065 shares at a cost of $14.22 each. This buy marks the first one filed by Berrey in the past year. Chimerix is trading down about 2% on the day Thursday. Berrey was up about 45.9% on the purchase at the high point of today's trading session, with CMRX trading as high as $20.75 in trading on Thursday.
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