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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of LHC Group (Nasdaq: LHCG ) jumped 10% today on word of insider buying.
So what: Coliseum Capital Management recently disclosed that it bought 22,000 shares, something it must do as an owner of at least 10% of the company. The fund has been adding shares in recent months, and with shares trading near a 52-week low it saw a buying opportunity.
Now what: I'm not reading too much into this move, but this is the kind of move that day traders love to hear. And since LHC has a small market cap, the stock can be very volatile on days like today when the company gets more attention. I would leave this move alone and allow shares to settle lower if you're looking to get into the stock.
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