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 Wednesday, Nationstar Mortgage Holdings' Director, Michael D. Malone, made a $478,541 buy of NSM, purchasing 30,000 shares at a cost of $15.95 a piece. Malone was up about 2.6% on the buy at the high point of today's trading session, with NSM trading as high as $16.37 in trading on Thursday. Nationstar Mortgage Holdings is trading up about 1.6% on the day Thursday.
And on Tuesday, Chief Financial Officer Michael R. Smith purchased $178,000 worth of ICC Holdings, purchasing 17,800 shares at a cost of $10.00 each. ICC Holdings Incorporated is trading down about 3.1% on the day Thursday. So far Smith is in the green, up about 60.0% on their buy based on today's trading high of $16.00.
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