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 Agree Realty, a filing with the SEC revealed that on Tuesday, Director John Rakolta Jr. bought 10,000 shares of ADC, at a cost of $63.50 each, for a total investment of $635,000. Agree Realty is trading off about 0.4% on the day Wednesday. Before this latest buy, Rakolta Jr. made one other purchase in the past year, buying $1.24M shares at a cost of $63.63 a piece.
And on Friday, Director Patricia S. Bellinger purchased $199,893 worth of L Brands, purchasing 3,666 shares at a cost of $54.53 a piece. L Brands, is trading down about 0.9% on the day Wednesday. Bellinger was up about 3.1% on the buy at the high point of today's trading session, with LB trading as high as $56.20 in trading on Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.