Feb 21, 2020 (MarketNewsVideo.com via COMTEX) --
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, Macerich's President, Edward C. Coppola, made a $230,287 purchase of MAC, buying 10,000 shares at a cost of $23.03 a piece. Coppola was up about 4.1% on the purchase at the high point of today's trading session, with MAC trading as high as $23.97 at last check today. Macerich is trading up about 1.2% on the day Friday. Before this latest buy, Coppola purchased MAC on 7 other occasions during the past year, for a total investment of $1.88M at an average of $31.27 per share.
And on Tuesday, Director Paul A. Vermylen Jr. bought $90,732 worth of Star Group, buying 10,149 shares at a cost of $8.94 each. This purchase marks the first one filed by Vermylen Jr. in the past twelve months. Star Group is trading up about 0.2% on the day Friday.
The preceding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=20200220200221insiderMACSG&mv=1 .
Copyright 2020 MarketNewsVideo.com