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 Astoria Financial Corp. (NYSE:AF), a filing with the SEC revealed that on Monday, Director John J. Corrado bought 25,000 shares of AF, for a cost of $9.96 each, for a total investment of $249,110. Bargain hunters have the opportunity to snag AF at a price even lower than Corrado did, with the stock changing hands as low as $9.62 at last check today -- that's 3.5% below Corrado's purchase price. Astoria Financial Corp. is trading up about 1.3% on the day Wednesday. This purchase marks the first one filed by Corrado in the past twelve months.
And at Jabil Circuit, Inc. (JBL), there was insider buying on Friday, by Director Martha Brooks who purchased 13,000 shares at a cost of $17.14 each, for a trade totaling $222,847. Before this latest buy, Brooks made one other purchase in the past year, buying $3,064 shares at a cost of $19.15 each. Jabil Circuit, Inc. is trading up about 0.1% on the day Wednesday.
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