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.
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 Mack Cali Realty, a filing with the SEC revealed that on Monday, Director A.
Akiva Katz purchased 240,000 shares of CLI, at a cost of $15.67 each, for a total investment of $3.76M.
So far Katz is in the green, up about 5.3% on their purchase based on today's trading high of $16.50.
Mack Cali Realty is trading up about 2.2% on the day Tuesday.
Before this latest buy, Katz purchased CLI on 2 other occasions during the past year, for a total investment of $11.78M at an average of $14.95 per share.
And at New Residential Investment, there was insider buying on Monday, by Chairman, CEO & President Michael Nierenberg who bought 100,000 shares for a cost of $10.10 each, for a total investment of $1.01M.
New Residential Investment is trading up about 0.1% on the day Tuesday.
So far Nierenberg is in the green, up about 3.6% on their buy based on today's trading high of $10.47.