Monday 10/6 Insider Buying Report: KMX, MAIA
Monday, October 6, 3:17 PM ET

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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 Carmax, a filing with the SEC revealed that on Thursday, Director Mitchell D. Steenrod purchased 2,000 shares of KMX, at a cost of $45.57 each, for a total investment of $91,140. So far Steenrod is in the green, up about 3.2% on their purchase based on today's trading high of $47.01. Carmax is trading up about 0.3% on the day Monday. Before this latest buy, Steenrod made one other buy in the past year, purchasing $85,137 shares for a cost of $65.49 a piece.

And at MAIA Biotechnology, there was insider buying on Wednesday, by Director Stan Smith who purchased 19,230 shares at a cost of $1.30 each, for a trade totaling $24,999. Before this latest buy, Smith purchased MAIA at 4 other times during the past year, for a total investment of $447,798 at an average of $1.99 per share. MAIA Biotechnology is trading trading flat on the day Monday. Smith was up about 36.2% on the buy at the high point of today's trading session, with MAIA trading as high as $1.77 in trading on Monday.

For MarketNewsVideo.com, I'm Sayoko Murase.