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.
On Tuesday, Banc Of California (NYSE:BANC)'s, James Andrew Barker, made a $177,340 purchase of BANC, buying 10,820 shares at a cost of $16.39 a piece. So far Barker is in the green, up about 5.2% on their buy based on today's trading high of $17.24. Banc Of California is trading up about 0.1% on the day Thursday.
And also on Tuesday, Director Ginger M. Jones purchased $165,950 worth of Nordson Corp. (NASDAQ:NDSN), purchasing 1,000 shares at a cost of $165.95 a piece. This purchase marks the first one filed by Jones in the past twelve months. Nordson Corp. is trading down about 0.3% on the day Thursday. Bargain hunters can pick up NDSN even cheaper than Jones did, with shares trading as low as $162.21 at last check today which is 2.3% below Jones's purchase price.
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