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, Retail Properties of America, Inc (NYSE:RPAI)'s Director, Frank A. Catalano Jr., made a $70,659 buy of RPAI, purchasing 5,925 shares at a cost of $11.93 each. Catalano Jr. was up about 1.4% on the purchase at the high point of today's trading session, with RPAI trading as high as $12.09 at last check today. Retail Properties of America, Inc is trading up about 0.3% on the day Wednesday.
And also on Monday, Director Rick J. Mills bought $53,749 worth of Commercial Metals Co. (NYSE:CMC), buying 3,617 shares at a cost of $14.86 each. Before this latest buy, Mills bought CMC on 3 other occasions during the past twelve months, for a total cost of $69,046 at an average of $13.28 per share. Commercial Metals Co. is trading up about 5.3% on the day Wednesday. Mills was up about 5.6% on the buy at the high point of today's trading session, with CMC trading as high as $15.69 at last check today.
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