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 MVC Capital (MVC), a filing with the SEC revealed that on Monday, Gerald Hellerman bought 2,000 shares of MVC, for a cost of $8.97 each, for a total investment of $17,939. Bargain hunters are able to grab MVC at a price even lower than Hellerman did, with shares trading as low as $8.86 in trading on Thursday which is 1.2% under Hellerman's purchase price. MVC Capital is trading up about 0.1% on the day Thursday.
And at Athenex (ATNX), there was insider buying on Monday, by Chief Financial Officer Randoll Sze who bought 1,000 shares at a cost of $12.62 each, for a trade totaling $12,620. Before this latest buy, Sze made one other buy in the past year, purchasing $10,255 shares for a cost of $10.26 each. Athenex is trading down about 1.4% on the day Thursday. Bargain hunters are able to pick up ATNX even cheaper than Sze did, with shares trading as low as $12.19 in trading on Thursday — that's 3.4% under Sze's purchase price.
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