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 Metacrine, a filing with the SEC revealed that on Friday, Director Kristina Burow purchased 230,000 shares of MTCR, at a cost of $13.00 each, for a total investment of $2.99M. Investors are able to snag MTCR even cheaper than Burow did, with shares changing hands as low as $9.06 at last check today -- that's 30.3% below Burow's purchase price. Metacrine is trading down about 2.7% on the day Tuesday. This buy marks the first one filed by Burow in the past twelve months.
And on Thursday, CEO Jeffrey H. Fisher bought $198,750 worth of Chatham Lodging Trust, buying 25,000 shares at a cost of $7.95 each. Before this latest buy, Fisher purchased CLDT on 3 other occasions during the past year, for a total investment of $920,664 at an average of $7.83 per share. Chatham Lodging Trust is trading off about 2.7% on the day Tuesday. Bargain hunters can bag CLDT even cheaper than Fisher did, with shares trading as low as $6.83 at last check today which is 14.1% below Fisher's purchase price.
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