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 Andeavor Logistics (ANDX), a filing with the SEC revealed that on Friday, Director Jeff A. Stevens purchased 48,374 shares of ANDX, for a cost of $49.41 each, for a total investment of $2.39M. Andeavor Logistics is trading trading flat on the day Tuesday. Before this latest buy, Stevens purchased ANDX on 4 other occasions during the past year, for a total investment of $3.90M at an average of $47.00 per share.
And also on Friday, Director Ilya Golubovich bought $1.2M worth of Maxwell Technologies (MXWL), buying 369,100 shares at a cost of $3.25 each. Maxwell Technologies is trading up about 6.2% on the day Tuesday. Golubovich was up about 12.3% on the buy at the high point of today's trading session, with MXWL trading as high as $3.65 at last check today.
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