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 Mandalay Digital Group (MNDL), a filing with the SEC revealed that on Tuesday, Director Robert M. Deutschman purchased 70,000 shares of MNDL, for a cost of $3.75 each, for a total investment of $262,500. So far Deutschman is in the green, up about 5.9% on their purchase based on today's trading high of $3.97. Mandalay Digital Group is trading down about 0.8% on the day Friday.
And on Thursday, Director Daniel P. Nolan bought $189,963 worth of Boston Private Financial Holdings (NASDAQ:BPFH), buying 15,000 shares at a cost of $12.66 each. This purchase marks the first one filed by Nolan in the past twelve months. Boston Private Financial Holdings is trading up about 1% on the day Friday. Nolan was up about 1.5% on the buy at the high point of today's trading session, with BPFH trading as high as $12.85 at last check today.
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