Friday 7/16 Insider Buying Report: ANIX, MGYR

Friday 7/16 Insider Buying Report: ANIX, MGYR

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 Thursday, Anixa Biosciences' Director, Arnold M.

Baskies, made a $78,000 buy of ANIX, purchasing 20,000 shares at a cost of $3.90 a piece.

Anixa Biosciences is trading off about 1.2% on the day Friday.

Before this latest buy, Baskies made one other purchase in the past twelve months, buying $39,100 shares at a cost of $3.91 a piece.

And on Wednesday, CLO Peter Mcintyre Brown purchased $20,760 worth of Magyar Bancorp, purchasing 2,076 shares at a cost of $10.00 a piece.

Magyar Bancorp is trading down about 0.8% on the day Friday.

Brown was up about 9.9% on the purchase at the high point of today's trading session, with MGYR trading as high as $10.99 in trading on Friday.