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 a noteworthy recent insider buy.
On Tuesday, CFO Gregory Sullivan purchased just over $50,000 worth of STAG Industrial (NYSE:STAG), purchasing 3,100 shares at a cost of $16.20 each. Before this latest buy, Sullivan purchased STAG at 13 other times during the past year, for a total investment of just over $395,000 at an average of $12.00 per share. STAG Industrial is trading up about 0.4% on the day Friday.
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