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 Agree Realty Corp. (NYSE:ADC), a filing with the SEC revealed that on Tuesday, Director John Rakolta Jr. bought 50,000 shares of ADC, at a cost of $27.25 each, for a total investment of $1.36M. So far Rakolta Jr. is in the green, up about 2.1% on their buy based on today's trading high of $27.82. Agree Realty Corp. is trading up about 0.8% on the day Thursday. This buy marks the first one filed by Rakolta Jr. in the past year.
And at Cyberonics, Inc. (NASDAQ:CYBX), there was insider buying on Tuesday, by CEO Daniel Jeffrey Moore who purchased 4,000 shares at a cost of $19.39 each, for a total investment of $77,560. Before this latest buy, Moore bought CYBX at 6 other times during the past year, for a total cost of $407,545 at an average of $16.98 per share. Cyberonics, Inc. is trading off about 2.3% on the day Thursday. So far Moore is in the green, up about 175.8% on their buy based on today's trading high of $53.48.
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