Here are the 6 stocks insiders were buying like crazy the past week:
1. Scientific Games (SGMS - Get Report). Insiders have been buying like crazy in Scientific Games Corp . Most insiders were buying last week on Thursday and Friday when the stock was trading around $8 per share. Overall, insiders bought more than 4 million shares. The stock already went up by double digits compared to last Thursday, yet it's still below its early September levels.
2. Black Hills (BKH - Get Report): Three insiders purchased modest amounts of shares of Black Hills , an electric utilities company. The share price has been pretty stable, so all insiders paid around $29.7 per share. The last purchase was on Tuesday at that price. The stock closed at $30.7 on Thursday. It leaves a bad taste in this monkey's mouth to pay more than 3% premium for a stable utilities stock, but we have to follow the strategy.
3. World Heart (WHRT): Mostly large shareholders have been buying this stock when it's around $2-$2.5. The latest purchase in World Heart Corp was on Monday at $1.98. The stock closed at $1.98 on Thursday after a 3.9% decline. This is a very illiquid stock, so it isn't really a good candidate to monkey for a quick profit.4. Town Sports International Holdings (CLUB - Get Report): This is another stock which insiders have been buying like crazy for a while now. We wrote a separate article about Town Sports International (CLUB) on Nov. 14 detailing all the insider transactions. We liked what we saw and we concluded our article by stating that we will be adding CLUB to our hypothetical portfolio. This week two insiders were buying CLUB shares at around $3.50. CLUB closed at $3.01 in November, so since we added CLUB to Insider Monkey's hypothetical portfolio it went up by 21%. (This is not investment advice, though. Everything mentioned here is solely for educational and entertainment purposes. You have to do your own due diligence. We don't accept any responsibility for losses.) 5. Career Education Corp (CECO - Get Report): We previously covered Career Education Corp on Nov. 18 . The latest insider purchase was on Dec. 3 at $18.26. In November, insiders bought these shares at $17.50 and $17.98. So it seems like $18 is the trigger level for insiders. Unfortunately the stock closed at $19.18 on Thursday, 5% above the insiders' price.