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 Swiss Helvetia Fund , a filing with the SEC revealed that on Tuesday, Director Phillip Goldstein purchased 25,000 shares of SWZ, for a cost of $8.39 each, for a total investment of $209,700. Investors can snag SWZ even cheaper than Goldstein did, with shares trading as low as $8.29 in trading on Wednesday -- that's 1.2% below Goldstein's purchase price. Swiss Helvetia Fund is trading off about 0.1% on the day Wednesday. Before this latest buy, Goldstein purchased SWZ on 4 other occasions during the past twelve months, for a total investment of $604,561 at an average of $8.14 per share.
And on Monday, EVP of International Markets Benjamin Skuy bought $157,150 worth of KAR Auction Services, buying 7,000 shares at a cost of $22.45 a piece. This purchase marks the first one filed by Skuy in the past year. KAR Auction Services is trading up about 0.9% on the day Wednesday. Bargain hunters are able to pick up KAR at a price even lower than Skuy did, with the stock changing hands as low as $20.77 in trading on Wednesday which is 7.5% under Skuy's purchase price.
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