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 Buffalo Wild Wings (BWLD), a filing with the SEC revealed that on Tuesday, Director Capital Management LP Marcato purchased 950,000 shares of BWLD, for a cost of $156.60 each, for a total investment of $148.77M. Buffalo Wild Wings is trading up about 0.2% on the day Thursday. Before this latest buy, Marcato purchased BWLD on 2 other occasions during the past year, for a total cost of $6.80M at an average of $146.66 per share.
And also on Tuesday, Director Joseph W. Brown bought $362,500 worth of MBIA Inc. (NYSE:MBI), buying 50,000 shares at a cost of $7.25 each. This buy marks the first one filed by Brown in the past twelve months. MBIA is trading up about 7.4% on the day Thursday. Brown was up about 12.0% on the purchase at the high point of today's trading session, with MBI trading as high as $8.12 at last check today.
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