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 Agilysys (NASDAQ:AGYS), a filing with the SEC revealed that on Wednesday, CEO Ramesh Srinivasan bought 60,000 shares of AGYS, for a cost of $9.62 each, for a total investment of $577,206. Agilysys is trading up about 3% on the day Friday. This purchase marks the first one filed by Srinivasan in the past twelve months.
And also on Wednesday, Director Donald E. Morel Jr. bought $292,700 worth of Catalent (NYSE:CTLT), buying 10,000 shares at a cost of $29.27 each. Catalent is trading up about 0.6% on the day Friday.
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