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Friday 1/7 Insider Buying Report: OSAT, AAIC Friday, January 7, 10:50 AM ET 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.
On Wednesday, Orbsat's President/ CEO of Global Ops, David Phipps, made a $150,002 buy of OSAT, purchasing 46,297 shares at a cost of $3.24 each. So far Phipps is in the green, up about 26.4% on their buy based on today's trading high of $4.09. Orbsat is trading up about 3.9% on the day Friday.
And at Arlington Asset Investment, there was insider buying on Thursday, by CEO J. Rock Tonkel Jr. who purchased 10,000 shares at a cost of $3.61 each, for a total investment of $36,070. Before this latest buy, Tonkel Jr. purchased AAIC on 2 other occasions during the past year, for a total cost of $71,900 at an average of $3.60 per share. Arlington Asset Investment is trading up about 1.1% on the day Friday. Tonkel Jr. was up about 0.6% on the purchase at the high point of today's trading session, with AAIC trading as high as $3.63 in trading on Friday.
For MarketNewsVideo.com, I'm Sayoko Murase. | |
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