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.
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 Tuesday, MaxLinear's Steven G.
Litchfield, made a $499,730 purchase of MXL, buying 10,414 shares at a cost of $47.99 each.
So far Litchfield is in the green, up about 3.9% on their purchase based on today's trading high of $49.85.
MaxLinear is trading up about 0.5% on the day Wednesday.
Before this latest buy, Litchfield bought MXL on 3 other occasions during the past twelve months, for a total investment of $499,615 at an average of $53.83 per share.
And at AllianzGI Convertible & Income Fund, there was insider buying on Friday, by Director James S.
Macleod who bought 12,892 shares at a cost of $5.94 each, for a trade totaling $76,636.
AllianzGI Convertible & Income Fund is trading up about 0.3% on the day Wednesday.
So far Macleod is in the green, up about 2.6% on their purchase based on today's trading high of $6.10.