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 Monday, Milacron Holdings' CEO, Thomas J. Goeke, made a $1.00M buy of MCRN, purchasing 65,000 shares at a cost of $15.41 each. Goeke was up about 4.5% on the purchase at the high point of today's trading session, with MCRN trading as high as $16.10 at last check today. Milacron Holdings is trading up about 4.7% on the day Thursday. This buy marks the first one filed by Goeke in the past year.
And on Tuesday, Director William J. Colombo purchased $524,902 worth of Dick's Sporting Goods, purchasing 20,000 shares at a cost of $26.25 a piece. Dick's Sporting Goods is trading up about 0.8% on the day Thursday. Colombo was up about 4.4% on the purchase at the high point of today's trading session, with DKS trading as high as $27.41 in trading on Thursday.
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