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 AT&T, a filing with the SEC revealed that on Thursday, Director Stephen J. Luczo purchased 100,000 shares of T, at a cost of $29.69 each, for a total investment of $2.97M. Investors have the opportunity to pick up T at a price even lower than Luczo did, with the stock changing hands as low as $29.20 at last check today which is 1.7% under Luczo's purchase price. AT&T is trading up about 1.2% on the day Tuesday. Before this latest buy, Luczo purchased T at 2 other times during the past year, for a total investment of $4.82M at an average of $35.43 per share.
And on Monday, Director W. Glenn Hogan bought $206,336 worth of Limestone Bancorp, buying 18,763 shares at a cost of $11.00 a piece. Before this latest buy, Hogan bought LMST at 3 other times during the past year, for a total cost of $108,538 at an average of $9.66 per share. Limestone Bancorp is trading trading flat on the day Tuesday. Thus far Hogan is down about 0.3% on the purchase, with the stock changing hands as low as $10.96 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.