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 Cohen & Steers Limited Duration Preferred Income Fund (NYSE:LDP), a filing with the SEC revealed that on Friday, Co-Chairman Martin Cohen purchased 5,100 shares of LDP, at a cost of $24.71 each, for a total investment of $126,000. So far Cohen is in the green, up about 1.0% on their buy based on today's trading high of $24.95.
And at Home Depot (NYSE:HD), there was insider buying on Friday, by Director Ronald Sargent who bought 1,667 shares at a cost of $59.44 each, for a trade totaling just over $99,000. This buy marks the first one filed by Sargent in the past twelve months. Home Depot is trading up about 1.1% on the day Tuesday.
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