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 Seer, a filing with the SEC revealed that on Tuesday, Director Terrance McGuire bought 78,947 shares of SEER, for a cost of $19.00 each, for a total investment of $1.5M. McGuire was up about 268.4% on the purchase at the high point of today's trading session, with SEER trading as high as $70.00 at last check today. Seer is trading up about 6% on the day Thursday. This buy marks the first one filed by McGuire in the past twelve months.
And at Carriage Services, there was insider buying on Wednesday, by CEO Melvin C. Payne who bought 29,000 shares at a cost of $30.02 each, for a total investment of $870,580. Carriage Services is trading up about 0.5% on the day Thursday.
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