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 Thursday, Methode Electronics' Chief Executive Officer, Donald W. Duda, made a $506,636 purchase of MEI, buying 23,245 shares at a cost of $21.80 each. Duda was up about 8.0% on the purchase at the high point of today's trading session, with MEI trading as high as $23.55 at last check today. Methode Electronics is trading up about 2.9% on the day Tuesday.
And on Friday, Douglas B. Trussler purchased $374,950 worth of Motorcar Parts of America, purchasing 50,000 shares at a cost of $7.50 a piece. Before this latest buy, Trussler made one other buy in the past year, purchasing $350,000 shares for a cost of $7.00 each. Motorcar Parts of America is trading up about 4.2% on the day Tuesday. So far Trussler is in the green, up about 4.9% on their purchase based on today's trading high of $7.87.
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