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 Rocky Mountain Chocolate Factory, a filing with the SEC revealed that on Monday, Interim CEO Jeffrey Richart Geygan bought 75,423 shares of RMCF, at a cost of $1.59 each, for a total investment of $119,965. Geygan was up about 13.2% on the purchase at the high point of today’s trading session, with RMCF trading as high as $1.80 at last check today. Rocky Mountain Chocolate Factory is trading off about 3.8% on the day Thursday. Before this latest buy, Geygan purchased RMCF at 2 other times during the past year, for a total investment of $1.37M at an average of $2.65 per share.
And at Commercial Metals, there was insider buying on Monday, by Director John R. McPherson who purchased 1,722 shares at a cost of $58.09 each, for a trade totaling $100,037. Before this latest buy, McPherson made one other buy in the past year, purchasing $100,040 shares at a cost of $40.42 a piece. Commercial Metals is trading up about 2.1% on the day Thursday. So far McPherson is in the green, up about 5.7% on their buy based on today’s trading high of $61.39.
VIDEO: Thursday 10/23 Insider Buying Report: RMCF, CMC
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