Friday 10/3 Insider Buying Report: FGBI, ADC
Friday, October 3, 11:10 AM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At First Guaranty Bancshares, a filing with the SEC revealed that on Tuesday, Director Bruce McAnally purchased 31,056 shares of FGBI, for a cost of $8.05 each, for a total investment of $250,001. McAnally was up about 5.3% on the buy at the high point of today's trading session, with FGBI trading as high as $8.48 at last check today. First Guaranty Bancshares is trading up about 6.5% on the day Friday. Before this latest buy, McAnally bought FGBI at 2 other times during the past year, for a total cost of $458,496 at an average of $8.26 per share.
And on Thursday, CEO Joey Agree bought $249,183 worth of Agree Realty, buying 3,528 shares at a cost of $70.63 a piece. Before this latest buy, Agree bought ADC on 2 other occasions during the past year, for a total investment of $501,296 at an average of $72.13 per share. Agree Realty is trading up about 1% on the day Friday. Agree was up about 1.2% on the purchase at the high point of today's trading session, with ADC trading as high as $71.49 in trading on Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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