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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Apollo Residential Mortgage, Inc. (NYSE:AMTG)'s Director, Fred J. Kleisner, made a $362,157 purchase of AMTG, buying 16,600 shares at a cost of $21.82 a piece. Kleisner was up about 3.1% on the buy at the high point of today's trading session, with AMTG trading as high as $22.50 in trading on Tuesday. Apollo Residential Mortgage, Inc. is trading up about 0.5% on the day Tuesday.
And also on Monday, Chief Financial Officer Kevin S. Palatnik purchased $215,598 worth of Audience Inc (ADNC), purchasing 25,000 shares at a cost of $8.62 a piece. This purchase marks the first one filed by Palatnik in the past twelve months. Audience Inc is trading up about 9% on the day Tuesday. Palatnik was up about 11.6% on the buy at the high point of today's trading session, with ADNC trading as high as $9.62 in trading on Tuesday.
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