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.
On Wednesday, Acacia Research's CIO, Alfred Victor Tobia Jr., made a $377,170 buy of ACTG, purchasing 100,000 shares at a cost of $3.77 each. Tobia Jr. was up about 13.2% on the purchase at the high point of today's trading session, with ACTG trading as high as $4.27 at last check today. Acacia Research is trading up about 1.8% on the day Friday.
And also on Wednesday, President, CEO & Director Diane R. Garrett purchased $241,458 worth of Hycroft Mining Holding, purchasing 34,000 shares at a cost of $7.10 a piece. This purchase marks the first one filed by Garrett in the past twelve months. Hycroft Mining Holding is trading up about 5.7% on the day Friday. Garrett was up about 24.5% on the buy at the high point of today's trading session, with HYMC trading as high as $8.84 at last check today.
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