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 Cal-Maine Foods, a filing with the SEC revealed that on Thursday, Chief Strategy Officer Keira L. Lombardo purchased 2,800 shares of CALM, for a cost of $92.36 each, for a total investment of $258,599. Lombardo was up about 2.4% on the purchase at the high point of today's trading session, with CALM trading as high as $94.60 at last check today. Cal-Maine Foods is trading down about 0.3% on the day Tuesday. This buy marks the first one filed by Lombardo in the past twelve months.
And on Friday, Chief Compliance Officer Jeri Ruth Bluth bought $75,880 worth of Mackenzie Realty Capital, buying 15,000 shares at a cost of $5.06 a piece. Before this latest buy, Bluth purchased MKZR on 5 other occasions during the past twelve months, for a total investment of $357,262 at an average of $4.66 per share. Mackenzie Realty Capital is trading up about 0.2% on the day Tuesday. So far Bluth is in the green, up about 18.6% on their buy based on today's trading high of $6.00.
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