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 Friday, Matson (NYSE:MATX)'s Director, Mark H. Fukunaga, made a $144,970 buy of MATX, purchasing 4,000 shares at a cost of $36.24 a piece. Fukunaga was up about 2.1% on the buy at the high point of today's trading session, with MATX trading as high as $37.02 at last check today. Matson is trading down about 0.2% on the day Wednesday. Before this latest buy, Fukunaga made one other buy in the past year, purchasing $105,590 shares for a cost of $35.20 each.
And also on Friday, Director Todd M. Cleveland bought $100,414 worth of IES Holdings (NASDAQ:IESC), buying 5,304 shares at a cost of $18.93 a piece. This buy marks the first one filed by Cleveland in the past twelve months. IES Holdings is trading up about 0.3% on the day Wednesday. So far Cleveland is in the green, up about 2.5% on their purchase based on today's trading high of $19.40.
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