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.
On Monday, TriState Capital Holdings (NASDAQ:TSC)'s Director, Richard A. Zappala, made a $119,221 buy of TSC, purchasing 12,900 shares at a cost of $9.24 each. Zappala was up about 2.1% on the purchase at the high point of today's trading session, with TSC trading as high as $9.44 in trading on Wednesday. TriState Capital Holdings is trading up about 0.3% on the day Wednesday. This purchase marks the first one filed by Zappala in the past year.
And at Ansys (NASDAQ:ANSS), there was insider buying on Friday, by VP Robert Andrew Kocis who purchased 1,200 shares for a cost of $82.61 each, for a trade totaling $99,137. This purchase marks the first one filed by Kocis in the past twelve months. Ansys is trading up about 0.2% on the day Wednesday. Investors have the opportunity to pick up ANSS at a price even lower than Kocis did, with the stock trading as low as $81.22 at last check today -- that's 1.7% under Kocis's purchase price.
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