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 one noteworthy recent insider buy.
On Monday, Chief Financial Officer Stephen W. Theriot purchased $252,296 worth of Vornado Realty Trust (NYSE:VNO), purchasing 3,100 shares at an average cost of $81.39 a piece. Vornado Realty Trust is trading up about 0.6% on the day Wednesday. Investors can grab VNO at a price even lower than Theriot did, with the stock changing hands as low as $80.17 at last check today which is 1.5% under Theriot's purchase price.
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