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 Adams Diversified Equity Fund, a filing with the SEC revealed that on Monday, Director Lauriann C. Kloppenburg purchased 3,000 shares of ADX, at a cost of $19.16 each, for a total investment of $57,479. Adams Diversified Equity Fund Inc is trading up about 0.2% on the day Wednesday.
And on Friday, Director Murray Stahl bought $42,708 worth of Texas Pacific Land, buying 29 shares at a cost of $1472.68 each. Before this latest buy, Stahl purchased TPL on 71 other occasions during the past year, for a total cost of $3.22M at an average of $1199.45 per share. Texas Pacific Land is trading up about 3.3% on the day Wednesday. So far Stahl is in the green, up about 13.1% on their buy based on today's trading high of $1666.10.
For MarketNewsVideo.com, I'm Sayoko Murase.