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 Waste Connections, a filing with the SEC revealed that on Tuesday, CEO Ronald J. Mittelstaedt bought 50,000 shares of WCN, at a cost of $152.24 each, for a total investment of $7.61M. Waste Connections is trading off about 0.8% on the day Wednesday. This purchase marks the first one filed by Mittelstaedt in the past twelve months.
And at Millrose Properties, there was insider buying on Monday, by Darren Richman who bought 235,000 shares for a cost of $27.31 each, for a total investment of $6.42M. Millrose Properties is trading up about 0.6% on the day Wednesday.
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