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, Steel Partners Holdings's Director, Eric P. Karros, made a $198,850 purchase of SPLP, buying 21,695 shares at a cost of $9.17 each. So far Karros is in the green, up about 27.4% on their purchase based on today's trading high of $11.68. Steel Partners Holdings is trading up about 20.8% on the day Wednesday.
And at Nortech Systems, there was insider buying on Monday, by CFO Christopher Dean Jones who bought 14,636 shares at a cost of $6.23 each, for a total investment of $91,188. Before this latest buy, Jones made one other purchase in the past year, buying $11,513 shares at a cost of $5.66 each. Nortech Systems is trading up about 26.6% on the day Wednesday. Jones was up about 32.1% on the purchase at the high point of today's trading session, with NSYS trading as high as $8.23 in trading on Wednesday.
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