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.
At Medley Capital Corporation (MCC), a filing with the SEC revealed that on Friday, Director Seth Taube purchased 202,800 shares of MCC, at a cost of $7.45 each, for a total investment of $1.51M. So far Taube is in the green, up about 1.9% on their buy based on today's trading high of $7.59. Medley Capital Corporation is trading up about 1.7% on the day Monday. Before this latest buy, Taube bought MCC on 10 other occasions during the past twelve months, for a total cost of $10.86M at an average of $7.40 per share.
And on Wednesday, Group President Devin McGranahan purchased $1.49M worth of Fiserv (FISV), purchasing 15,000 shares at a cost of $99.21 a piece. This purchase marks the first one filed by McGranahan in the past year. Fiserv is trading up about 1.4% on the day Monday.
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