Monday 11/10 Insider Buying Report: AKS, ARI Monday, November 10, 1:40 PM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At AK Steel Holding (AKS), a filing with the SEC revealed that on Thursday, CEO James L. Wainscott purchased 160,000 shares of AKS, at a cost of $6.18 each, for a total investment of $988,976. Wainscott was up about 10.7% on the purchase at the high point of today's trading session, with AKS trading as high as $6.84 at last check today. AK Steel Holding is trading up about 3.2% on the day Monday. This purchase marks the first one filed by Wainscott in the past year.
And at Apollo Commercial Real Estate Finance (ARI), there was insider buying on Wednesday, by Director Eric Press who bought 21,207 shares for a cost of $16.24 each, for a trade totaling $344,353. Apollo Commercial Real Estate Finance is trading up about 0.4% on the day Monday. Press was up about 1.9% on the purchase at the high point of today's trading session, with ARI trading as high as $16.54 at last check today.
For MarketNewsVideo.com, I'm Kristin Bianco.
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