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 Parsons, a filing with the SEC revealed that on Thursday, Chief Financial Officer George L. Ball purchased 25,000 shares of PSN, at a cost of $29.40 each, for a total investment of $734,975. Ball was up about 10.9% on the purchase at the high point of today's trading session, with PSN trading as high as $32.60 at last check today. Parsons is trading up about 3.4% on the day Tuesday.
And at NCI Building Systems, there was insider buying on Friday, by CEO James S. Metcalf who bought 96,348 shares at a cost of $6.02 each, for a total investment of $580,015. Before this latest buy, Metcalf made one other purchase in the past year, buying $709,000 shares for a cost of $7.09 each. NCI Building Systems, Inc. is trading up about 0.7% on the day Tuesday.
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