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 Wednesday, Methode Electronics (NYSE:MEI)'s Director, Warren L. Batts, made a $978,613 purchase of MEI, buying 30,553 shares at a cost of $32.03 a piece. Batts was up about 1.5% on the purchase at the high point of today's trading session, with MEI trading as high as $32.52 at last check today. Methode Electronics is trading off about 0.3% on the day Monday. This purchase marks the first one filed by Batts in the past year.
And at Artisan Partners Asset Management (NYSE:APAM), there was insider buying on Thursday, by Director Seth W. Brennan who bought 12,500 shares at a cost of $39.08 each, for a total investment of $488,438. This purchase marks the first one filed by Brennan in the past twelve months. Artisan Partners Asset Management is trading up about 0.5% on the day Monday. So far Brennan is down about 0.9% on the purchase, with the stock trading as low as $38.74 in trading on Monday.
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