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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Dollar Tree's Director, Conrad M. Hall, made a $428,000 buy of DLTR, purchasing 5,000 shares at a cost of $85.60 a piece. Investors can buy DLTR even cheaper than Hall did, with shares changing hands as low as $82.98 at last check today which is 3.1% under Hall's purchase price. Dollar Tree is trading off about 0.8% on the day Wednesday. Before this latest buy, Hall bought DLTR at 2 other times during the past twelve months, for a total investment of $999,485 at an average of $66.63 per share.
And also on Monday, CEO Paul A. Pittman purchased $350,112 worth of Farmland Partners, purchasing 33,600 shares at a cost of $10.42 a piece. Farmland Partners is trading down about 0.3% on the day Wednesday. Pittman was up about 12.3% on the purchase at the high point of today's trading session, with FPI trading as high as $11.70 in trading on Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.