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 Chimera Investment, a filing with the SEC revealed that on Monday, Chief Investment Officer Jack Lee Macdowell Jr. purchased 100,000 shares of CIM, for a cost of $14.80 each, for a total investment of $1.48M. So far Macdowell Jr. is in the green, up about 2.6% on their buy based on today's trading high of $15.19. Chimera Investment is trading up about 1.2% on the day Tuesday. This purchase marks the first one filed by Macdowell Jr. in the past year.
And on Thursday, Philip Austin Singleton Jr. purchased $199,497 worth of OneWater Marine, purchasing 9,582 shares at a cost of $20.82 each. Before this latest buy, Singleton Jr. bought ONEW on 4 other occasions during the past twelve months, for a total cost of $729,875 at an average of $20.12 per share. OneWater Marine is trading up about 5.5% on the day Tuesday. Singleton Jr. was up about 7.6% on the purchase at the high point of today's trading session, with ONEW trading as high as $22.41 in trading on Tuesday.
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