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 Thursday, Everspin Technologies (NASDAQ:MRAM)'s Director, Geoffrey Tate, made a $111,888 buy of MRAM, purchasing 13,986 shares at a cost of $8.00 a piece. Bargain hunters are able to snag MRAM even cheaper than Tate did, with shares trading as low as $6.40 at last check today which is 20.0% below Tate's purchase price. Everspin Technologies is trading off about 2.5% on the day Tuesday.
And also on Thursday, EVP, CFO and Treasurer Jan R. Thiry bought $46,740 worth of Bancorp 34 (BCTF), buying 3,800 shares at a cost of $12.30 each. Bancorp 34 is trading up about 0.6% on the day Tuesday. So far Thiry is in the green, up about 5.3% on their buy based on today's trading high of $12.95.
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