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Bag This Bargain Even Cheaper Than CEO & President Caswell Did
By Market News Video Staff, Monday, August 14, 10:30 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 4, MAXIMUS Inc.'s CEO & President, Bruce Caswell, invested $248,367.98 into 3,141 shares of MMS, for a cost per share of $79.07. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Monday, bargain hunters could buy shares of MAXIMUS Inc. (NYSE:MMS) and achieve a cost basis even cheaper than Caswell, with shares changing hands as low as $78.75 per share. MAXIMUS Inc. shares are currently trading off about 0.2% on the day. The chart below shows the one year performance of MMS shares, versus its 200 day moving average:
Looking at the chart above, MMS's low point in its 52 week range is $54.46 per share, with $89.69 as the 52 week high point — that compares with a last trade of $79.56. By comparison, below is a table showing the prices at which MMS insider buying was recorded over the last six months:
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