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 two noteworthy recent insider buys.
At NiSource (NYSE:NI), a filing with the SEC revealed that on Friday, CCO Pablo Vegas bought 14,500 shares of NI, at a cost of $25.02 each, for a total investment of $362,790. NiSource is trading down about 0.5% on the day Tuesday.
And on Thursday, Chief Executive Officer Joseph A. Jolson bought $125,738 worth of Harvest Capital Credit Corporation (NASDAQ:HCAP), buying 12,418 shares at a cost of $10.13 a piece. Before this latest buy, Jolson bought HCAP on 2 other occasions during the past twelve months, for a total cost of $320,060 at an average of $10.14 per share. Harvest Capital Credit Corporation is trading down about 0.4% on the day Tuesday.
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