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 Liquidity Services (NASDAQ:LQDT), a filing with the SEC revealed that on Monday, Director Jaime Mateus-Tique bought 180,000 shares of LQDT, for a cost of $12.64 each, for a total investment of $2.28M. Liquidity Services is trading up about 2.3% on the day Wednesday. Before this latest buy, Mateus-Tique bought LQDT on 5 other occasions during the past twelve months, for a total investment of $3.39M at an average of $25.10 per share.
And on Tuesday, CEO Michael G. Barrett purchased $1.00M worth of Millennial Media (NYSE:MM), purchasing 291,000 shares at a cost of $3.45 a piece. This buy marks the first one filed by Barrett in the past twelve months. Millennial Media is trading up about 9.2% on the day Wednesday.
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