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 Mead Johnson Nutrition (MJN), a filing with the SEC revealed that on Monday, CFO Michel Martinus Gerardus Cup bought 4,000 shares of MJN, at a cost of $76.50 each, for a total investment of $306,000. Cup was up about 1.7% on the purchase at the high point of today's trading session, with MJN trading as high as $77.79 in trading on Friday. Mead Johnson Nutrition is trading down about 0.8% on the day Friday. This buy marks the first one filed by Cup in the past year.
And at Zebra Technologies (NASDAQ:ZBRA), there was insider buying on Monday, by Chief Executive Officer Anders Gustafsson who purchased 4,000 shares at a cost of $72.82 each, for a total investment of $291,280. Zebra Technologies is trading off about 3% on the day Friday. Bargain hunters have the opportunity to grab ZBRA at a price even lower than Gustafsson did, with the stock changing hands as low as $63.97 in trading on Friday which is 12.2% under Gustafsson's purchase price.
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