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 McDermott International, a filing with the SEC revealed that on Friday, SVP Tareq Kawash bought 26,000 shares of MDR, for a cost of $7.90 each, for a total investment of $205,400. Kawash was up about 6.3% on the buy at the high point of today's trading session, with MDR trading as high as $8.40 at last check today. McDermott International is trading off about 0.7% on the day Wednesday.
And on Tuesday, Director Scott G. Toothaker bought $192,674 worth of Bar Harbor Bankshares, buying 8,000 shares at a cost of $24.08 a piece. Before this latest buy, Toothaker bought BHB at 2 other times during the past twelve months, for a total cost of $214,070 at an average of $28.41 per share. Bar Harbor Bankshares is trading up about 2% on the day Wednesday. Toothaker was up about 2.1% on the purchase at the high point of today's trading session, with BHB trading as high as $24.58 at last check today.
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