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 Thermon Group Holdings, a filing with the SEC revealed that on Wednesday, Director Kevin J. McGinty purchased 5,000 shares of THR, for a cost of $22.10 each, for a total investment of $110,500. Thermon Group Holdings is trading up about 3% on the day Monday. This purchase marks the first one filed by McGinty in the past year.
And at Vectrus, there was insider buying on Thursday, by Director Eric M. Pillmore who bought 3,000 shares for a cost of $22.03 each, for a trade totaling $66,087. Before this latest buy, Pillmore purchased VEC on 4 other occasions during the past year, for a total investment of $49,887 at an average of $24.94 per share. Vectrus is trading up about 3.8% on the day Monday. So far Pillmore is in the green, up about 8.2% on their purchase based on today's trading high of $23.83.
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