Tuesday 4/9 Insider Buying Report: AVAV, EXA Tuesday, April 9, 12:50 PM ET
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.
At AeroVironment, Inc. (AVAV), a filing with the SEC revealed that on Monday, Director Arnold L. Fishman purchased 7,000 shares of AVAV, for a cost of $17.84 each, for a total investment of $124,880. Fishman was up about 5.8% on the purchase at the high point of today's trading session, with AVAV trading as high as $18.87 in trading on Tuesday. AeroVironment, Inc. is trading up about 2.2% on the day Tuesday. This purchase marks the first one filed by Fishman in the past year.
And on Thursday, Director John F. Smith Jr. purchased $32,400 worth of Exa Corp (EXA), purchasing 4,000 shares at a cost of $8.10 each. This buy marks the first one filed by Smith Jr. in the past twelve months. Exa Corp is trading up about 1.1% on the day Tuesday. Investors have the opportunity to buy EXA at a price even lower than Smith Jr. did, with shares changing hands as low as $7.25 at last check today -- that's 10.5% under Smith Jr.'s purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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