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 Organogenesis Holdings (NASDAQ:ORGO), a filing with the SEC revealed that on Wednesday, Director Wayne D. Mackie purchased 82,000 shares of ORGO, at a cost of $4.47 each, for a total investment of $366,211. So far Mackie is in the green, up about 8.6% on their buy based on today's trading high of $4.85. Organogenesis Holdings is trading up about 1.5% on the day Friday.
And at Pennantpark Floating Rate Capital (NASDAQ:PFLT), there was insider buying on Wednesday, by Director Samuel L. Katz who bought 25,000 shares at a cost of $11.42 each, for a total investment of $285,408. Before this latest buy, Katz made one other purchase in the past year, buying $242,240 shares for a cost of $12.11 a piece. Pennantpark Floating Rate Capital is trading down about 0.4% on the day Friday. Katz was up about 2.2% on the purchase at the high point of today's trading session, with PFLT trading as high as $11.66 at last check today.
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