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, Crocs' Director, John B. Replogle, made a $252,222 purchase of CROX, buying 2,240 shares at a cost of $112.60 each. Bargain hunters are able to grab CROX even cheaper than Replogle did, with the stock changing hands as low as $108.73 at last check today which is 3.4% below Replogle's purchase price. Crocs is trading up about 0.6% on the day Thursday. Before this latest buy, Replogle purchased CROX at 2 other times during the past year, for a total cost of $497,369 at an average of $125.35 per share.
And also on Wednesday, Aleksandar Milovanovic purchased $82,086 worth of Golden Matrix Group, purchasing 34,059 shares at a cost of $2.41 each. This buy marks the first one filed by Milovanovic in the past twelve months. Golden Matrix Group is trading up about 0.9% on the day Thursday. Bargain hunters are able to pick up GMGI at a price even lower than Milovanovic did, with the stock changing hands as low as $2.30 in trading on Thursday -- that's 4.6% below Milovanovic's purchase price.
VIDEO: Thursday 10/31 Insider Buying Report: CROX, GMGI
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