Tuesday 7/2 Insider Buying Report: MORF, KYN
Tuesday, July 2, 10:38 AM ET

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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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

At Morphic Holding, a filing with the SEC revealed that on Monday, Director Vikas Goyal bought 333,333 shares of MORF, for a cost of $15.00 each, for a total investment of $5M. Goyal was up about 67.7% on the purchase at the high point of today's trading session, with MORF trading as high as $25.15 at last check today. Morphic Holding is trading up about 1.9% on the day Tuesday.

And on Friday, President James C. Baker purchased $305,234 worth of Kayne Anderson MLP Investment, purchasing 20,000 shares at a cost of $15.26 a piece. Before this latest buy, Baker purchased KYN on 4 other occasions during the past twelve months, for a total investment of $1.17M at an average of $14.68 per share. Kayne Anderson MLP Investment Company is trading off about 0.3% on the day Tuesday. Baker was up about 0.8% on the buy at the high point of today's trading session, with KYN trading as high as $15.39 in trading on Tuesday.

For MarketNewsVideo.com, I'm Sayoko Murase.