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 Armada Hoffler Properties, a filing with the SEC revealed that on Thursday, Director John W. Snow purchased 125,000 shares of AHH, for a cost of $7.99 each, for a total investment of $999,358. Snow was up about 6.1% on the purchase at the high point of today's trading session, with AHH trading as high as $8.48 in trading on Tuesday. Armada Hoffler Properties is trading up about 8.3% on the day Tuesday.
And at Mustang Bio, there was insider buying on Thursday, by CEO Manuel Litchman, M.D. who bought 180,000 shares for a cost of $2.96 each, for a trade totaling $532,800. Mustang Bio is trading up about 20.8% on the day Tuesday. So far Litchman, M.D. is in the green, up about 26.4% on their buy based on today's trading high of $3.74.
For MarketNewsVideo.com, I'm Sayoko Murase.