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.
On Wednesday, Parsons', George L. Ball, made a $500,000 purchase of PSN, buying 10,000 shares at a cost of $50.00 each. Parsons Corp is trading up about 1.4% on the day Monday.
And also on Wednesday, Thomas Newgarden bought $440,457 worth of Kingstone Companies, buying 30,502 shares at a cost of $14.44 a piece. Before this latest buy, Newgarden bought KINS on 2 other occasions during the past year, for a total investment of $386,872 at an average of $16.46 per share. Kingstone Companies is trading up about 2.5% on the day Monday. So far Newgarden is in the green, up about 6.6% on their buy based on today's trading high of $15.40.
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