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 one noteworthy recent insider buy.
On Thursday, MMA Capital Management's CEO and President, Michael L. Falcone, made a $11,480 purchase of MMAC, buying 500 shares at a cost of $22.96 a piece. Bargain hunters can buy MMAC at a price even lower than Falcone did, with the stock changing hands as low as $22.09 in trading on Monday which is 3.8% under Falcone's purchase price. MMA Capital Management is trading down about 1.4% on the day Monday. Before this latest buy, Falcone bought MMAC on 25 other occasions during the past twelve months, for a total investment of $225,040 at an average of $21.75 per share.
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