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.
On Tuesday, AvalonBay Communities, Inc. (NYSE:AVB)'s Director, H. Jay Sarles, made a $125,120 purchase of AVB, buying 1,000 shares at a cost of $125.12 each. Sarles was up about 4.3% on the purchase at the high point of today's trading session, with AVB trading as high as $130.48 in trading on Wednesday. AvalonBay Communities, Inc. is trading up about 1.7% on the day Wednesday.
And at Stryker Corp. (NYSE:SYK), there was insider buying on Monday, by VP Strategy & Investor Rel. Katherine Ann Owen who bought 470 shares at a cost of $62.42 each, for a total investment of $29,337. This purchase marks the first one filed by Owen in the past twelve months. Stryker Corp. is trading up about 0.2% on the day Wednesday. Owen was up about 0.9% on the buy at the high point of today's trading session, with SYK trading as high as $62.98 at last check today.
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