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 Lesaka Technologies, a filing with the SEC revealed that on Monday, Executive Chairman Ali Mazanderani bought 91,423 shares of LSAK, for a cost of $4.36 each, for a total investment of $398,604. So far Mazanderani is in the green, up about 7.8% on their purchase based on today's trading high of $4.70. Lesaka Technologies is trading down about 1.3% on the day Thursday. Before this latest buy, Mazanderani bought LSAK on 4 other occasions during the past twelve months, for a total investment of $9.64M at an average of $5.00 per share.
And at Banc Of California, there was insider buying on Monday, by PRESIDENT OF THE BANK Hamid Hussain who purchased 14,000 shares for a cost of $21.12 each, for a trade totaling $295,680. This purchase marks the first one filed by Hussain in the past twelve months. Banc Of California is trading down about 3.4% on the day Thursday. Investors can pick up BANC at a price even lower than Hussain did, with shares changing hands as low as $19.61 at last check today which is 7.1% below Hussain's purchase price.
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