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 STAG Industrial Inc. (NYSE:STAG), a filing with the SEC revealed that on Thursday, CFO Gregory W. Sullivan bought 11,000 shares of STAG, for a cost of $11.38 each, for a total investment of $125,130. STAG Industrial Inc. is trading up about 3.3% on the day Friday. Before this latest buy, Sullivan purchased STAG at 3 other times during the past year, for a total investment of $103,953 at an average of $10.28 per share. In the past year, 1 other insider purchased STAG, buying 1,000 shares for a cost of $10.49 each.
And at Stewart Enterprises, Inc. (NASDAQ:STEI), there was insider buying on Wednesday, by CEO Thomas M. Kitchen who purchased 2,500 shares at a cost of $5.55 each, for a trade totaling $13,875. Before this latest buy, Kitchen purchased STEI at 4 other times during the past year, for a total investment of $53,715 at an average of $6.32 per share. In the past twelve months, 8 other insiders purchased STEI, in 11 separate transactions, for a total cost of $116,449 at an average of $5.97 per share. Stewart Enterprises, Inc. is trading up about 0.7% on the day Friday.
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