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 Armada Hoffler Properties (NYSE:AHH), a filing with the SEC revealed that on Monday, Director A. Russell Kirk bought 25,000 shares of AHH, at a cost of $9.65 each, for a total investment of $241,360. Kirk was up about 0.9% on the purchase at the high point of today's trading session, with AHH trading as high as $9.74 in trading on Thursday. Armada Hoffler Properties is trading up about 1.7% on the day Thursday. Before this latest buy, Kirk made one other purchase in the past twelve months, buying $271,500 shares for a cost of $9.05 each.
And also on Monday, Director Jeremy R. Nowak bought $204,199 worth of IEC Electronics Corp. (AMEX:IEC), buying 46,925 shares at a cost of $4.35 each. Before this latest buy, Nowak purchased IEC at 8 other times during the past year, for a total cost of $838,748 at an average of $4.18 per share. IEC Electronics Corp. is trading up about 3.2% on the day Thursday. Investors have the opportunity to buy IEC at a price even lower than Nowak did, with the stock changing hands as low as $4.20 at last check today which is 3.5% below Nowak's purchase price.
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