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 Thursday, Middleby's Director, Robert A. Nerbonne, made a $201,650 purchase of MIDD, buying 1,165 shares at a cost of $173.09 a piece. Middleby is trading off about 0.7% on the day Tuesday. This purchase marks the first one filed by Nerbonne in the past twelve months.
And also on Thursday, Director Rome G. Arnold III bought $197,194 worth of New Mountain Finance, buying 15,000 shares at a cost of $13.15 each. New Mountain Finance is trading up about 2.4% on the day Tuesday.
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