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.
On Monday, New Media Investment Group's, Leon G. Cooperman, made a $462,087 purchase of NEWM, buying 30,000 shares at a cost of $15.40 each. So far Cooperman is in the green, up about 3.8% on their buy based on today's trading high of $15.99. New Media Investment Group is trading up about 1.2% on the day Tuesday.
And at Dollar General, there was insider buying on Friday, by Director William C. Rhodes III who purchased 5,000 shares at a cost of $76.30 each, for a trade totaling $381,484. This buy marks the first one filed by Rhodes III in the past twelve months. Dollar General is trading off about 1.4% on the day Tuesday.
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