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 Prospect Capital (NASDAQ:PSEC), a filing with the SEC revealed that on Monday, CEO John F. Barry purchased 115,000 shares of PSEC, for a cost of $9.08 each, for a total investment of $1.04M. So far Barry is in the green, up about 1.0% on their buy based on today's trading high of $9.17. Prospect Capital Corporation is trading up about 0.4% on the day Wednesday. Before this latest buy, Barry bought PSEC on 6 other occasions during the past year, for a total investment of $6.26M at an average of $10.26 per share.
And on Friday, CEO Maurice M. Taylor Jr. purchased $811,918 worth of Titan International (NYSE:TWI), purchasing 81,892 shares at a cost of $9.91 each. Titan International is trading up about 13.2% on the day Wednesday. So far Taylor Jr. is in the green, up about 9.8% on their purchase based on today's trading high of $10.89.
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