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 Landec, a filing with the SEC revealed that on Wednesday, Nelson Obus purchased 10,000 shares of LNDC, at a cost of $10.30 each, for a total investment of $103,023. Landec is trading up about 0.9% on the day Friday. Before this latest buy, Obus made one other purchase in the past twelve months, buying $103,800 shares at a cost of $10.38 a piece.
And at Golub Capital BDC, there was insider buying on Wednesday, by Chairman Lawrence E. Golub who purchased 4,000 shares for a cost of $13.61 each, for a trade totaling $54,451. Before this latest buy, Golub purchased GBDC at 22 other times during the past twelve months, for a total investment of $13.58M at an average of $12.81 per share. Golub Capital BDC is trading off about 0.2% on the day Friday. Bargain hunters can grab GBDC even cheaper than Golub did, with the stock changing hands as low as $13.23 in trading on Friday which is 2.8% below Golub's purchase price.
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