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 White Mountains Insurance Group, a filing with the SEC revealed that on Friday, Director Weston M. Hicks bought 1,000 shares of WTM, at a cost of $1480.56 each, for a total investment of $1.48M. Thus far Hicks is down about 0.1% on the purchase, with shares changing hands as low as $1479.48 at last check today. White Mountains Insurance Group is trading up about 0.1% on the day Monday.
And at Emerson Electric, there was insider buying on Friday, by CEO Surendralal Lanca Karsanbhai who purchased 10,000 shares at a cost of $88.20 each, for a trade totaling $881,963. This buy marks the first one filed by Karsanbhai in the past year. Emerson Electric is trading down about 0.5% on the day Monday. Karsanbhai was up about 1.3% on the buy at the high point of today's trading session, with EMR trading as high as $89.36 at last check today.
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