Friday 10/9 Insider Buying Report: NYRT, MDGN Friday, October 9, 10:37 AM 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.
On Thursday, New York REIT (NYRT)'s Director, Marc J. Rowan, made a $2.49M purchase of NYRT, buying 234,948 shares at a cost of $10.61 each. Rowan was up about 2.3% on the buy at the high point of today's trading session, with NYRT trading as high as $10.85 in trading on Friday. New York REIT is trading up about 1.2% on the day Friday.
And on Tuesday, Director Sol J. Barer bought $999,999 worth of Medgenics (MDGN), buying 153,846 shares at a cost of $6.50 each. Before this latest buy, Barer bought MDGN on 3 other occasions during the past twelve months, for a total investment of $3.04M at an average of $5.37 per share. Medgenics is trading up about 5.2% on the day Friday. So far Barer is in the green, up about 17.5% on their buy based on today's trading high of $7.64.
For MarketNewsVideo.com, I'm Sayoko Murase.
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