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.
At American Financial Group, a filing with the SEC revealed that on Monday, Director Kenneth C. Ambrecht purchased 4,000 shares of AFG, for a cost of $59.88 each, for a total investment of $239,530. So far Ambrecht is in the green, up about 11.6% on their buy based on today's trading high of $66.81. American Financial Group is trading up about 7% on the day Wednesday. This purchase marks the first one filed by Ambrecht in the past year.
And on Tuesday, President Gerald A. Michaud bought $169,562 worth of Horizon Technology Finance, buying 14,900 shares at a cost of $11.38 a piece. Before this latest buy, Michaud made one other buy in the past twelve months, purchasing $42,000 shares at a cost of $12.00 a piece. Horizon Technology Finance is trading up about 3.9% on the day Wednesday. So far Michaud is in the green, up about 3.6% on their purchase based on today's trading high of $11.79.
For MarketNewsVideo.com, I'm Sayoko Murase.