Friday 3/24 Insider Buying Report: AMH Friday, March 24, 10:37 AM 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 one noteworthy recent insider buy.
At American Homes 4 Rent (AMH), a filing with the SEC revealed that on Wednesday, Director Hughes purchased 2,192,982 shares of AMH, at a cost of $22.80 each, for a total investment of $50M. Hughes was up about 4.2% on the buy at the high point of today's trading session, with AMH trading as high as $23.76 in trading on Friday. American Homes 4 Rent is trading up about 0.3% on the day Friday. Before this latest buy, Hughes bought AMH at 2 other times during the past year, for a total cost of $26.35M at an average of $21.79 per share.
For MarketNewsVideo.com, I'm Sayoko Murase.
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