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 Monday, Apache (NYSE:APA)'s CEO, G. Steven Farris, made a $836,908 purchase of APA, buying 10,000 shares at a cost of $83.69 each. Apache is trading up about 0.5% on the day Tuesday.
And at American International Group (NYSE:AIG), there was insider buying on Monday, by Director William G. Jurgensen who purchased 10,000 shares at a cost of $45.20 each, for a trade totaling $452,000. AIG is trading up about 0.8% on the day Tuesday.
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