There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on June 1, Medley Capital Corporation's Chief Executive Officer, Brook Taube, invested $235,255.67 into 25,000 shares of MCC, for a cost per share of $9.41. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.In trading on Tuesday, bargain hunters could buy shares of Medley Capital Corporation ( MCC) and achieve a cost basis 2.8% cheaper than Taube, with shares changing hands as low as $9.15 per share. Medley Capital Corporation shares are currently trading up about 0.4% on the day. The chart below shows the one year performance of MCC shares, versus its 200 day moving average: Looking at the chart above, MCC's low point in its 52 week range is $8.61 per share, with $13.47 as the 52 week high point — that compares with a last trade of $9.21. By comparison, below is a table showing the prices at which MCC insider buying was recorded over the last six months:
|06/01/2015||Brook Taube||Chief Executive Officer||25,000||$9.41||$235,255.67|
|05/29/2015||Jeffrey B. Tonkel||Director||5,000||$9.41||$47,051.00|
|05/28/2015||Richard T. Allorto Jr.||Chief Financial Officer||5,000||$9.34||$46,700.00|
|05/28/2015||John D. Fredericks||Chief Compliance Officer||1,000||$9.29||$9,289.00|
According to the ETF Finder at ETF Channel, MCC makes up 2.76% of the BDC Income ETF ( BIZD) which is trading relatively unchanged on the day Tuesday.