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 Friday, Ubran Edge Properties (NYSE:UE)'s Chief Operating Officer, Robert Minutoli, made a $241,296 buy of UE, purchasing 10,000 shares at a cost of $24.13 a piece. Bargain hunters are able to bag UE even cheaper than Minutoli did, with the stock changing hands as low as $23.71 in trading on Tuesday -- that's 1.7% under Minutoli's purchase price. Ubran Edge Properties is trading up about 0.1% on the day Tuesday. This buy marks the first one filed by Minutoli in the past twelve months.
And at Mannatech (NASDAQ:MTEX), there was insider buying on Monday, by Director Marlin Ray Robbins who bought 5,000 shares for a cost of $18.98 each, for a trade totaling $94,900. This buy marks the first one filed by Robbins in the past year. Mannatech is trading up about 0.8% on the day Tuesday.
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