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 Solar Capital Limited (NASDAQ:SLRC), a filing with the SEC revealed that on Thursday, Michael S. Gross purchased 29,000 shares of SLRC, for a cost of $17.82 each, for a total investment of $516,720. Solar Capital Limited is trading up about 0.2% on the day Monday. Before this latest buy, Gross made one other purchase in the past year, buying $1.76M shares at a cost of $22.27 each.
And on Wednesday, Director D. Bruce Sewell bought $499,404 worth of Vail Resorts (NYSE:MTN), buying 5,650 shares at a cost of $88.39 a piece. Vail Resorts is trading up about 1.1% on the day Monday. Sewell was up about 2.9% on the buy at the high point of today's trading session, with MTN trading as high as $90.97 in trading on Monday.
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