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 OFS Capital Corporation (NASDAQ:OFS), a filing with the SEC revealed that on Wednesday, Director Glenn R. Pittson purchased 22,965 shares of OFS, at a cost of $12.75 each, for a total investment of $292,704. OFS Capital Corporation is trading up about 0.6% on the day Friday. Before this latest buy, Pittson bought OFS on 5 other occasions during the past year, for a total cost of $826,479 at an average of $12.61 per share.
And on Tuesday, Director Robert G. Ashe purchased $124,920 worth of ServiceSource International (NASDAQ:SREV), purchasing 34,700 shares at a cost of $3.60 each. This buy marks the first one filed by Ashe in the past year. ServiceSource International is trading up about 0.3% on the day Friday. So far Ashe is in the green, up about 9.2% on their purchase based on today's trading high of $3.93.
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