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.
At Kayne Anderson MLP Investment, a filing with the SEC revealed that on Monday, Director Michael N. Mears bought 10,000 shares of KYN, at a cost of $12.24 each, for a total investment of $122,365. Investors have the opportunity to snag KYN at a price even lower than Mears did, with shares changing hands as low as $11.97 in trading on Friday which is 2.2% under Mears's purchase price. Kayne Anderson MLP Investment is trading down about 1% on the day Friday. This purchase marks the first one filed by Mears in the past twelve months.
And on Thursday, CEO James C. Clemmer purchased $111,500 worth of AngioDynamics, purchasing 10,000 shares at a cost of $11.15 each. This buy marks the first one filed by Clemmer in the past year. AngioDynamics is trading down about 0.4% on the day Friday.
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