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 Armada Hoffler Properties (NYSE:AHH), a filing with the SEC revealed that on Tuesday, Director Daniel A. Hoffler bought 50,000 shares of AHH, for a cost of $9.24 each, for a total investment of $462,000. Hoffler was up about 6.7% on the buy at the high point of today's trading session, with AHH trading as high as $9.86 at last check today. Armada Hoffler Properties is trading up about 0.4% on the day Friday. This buy marks the first one filed by Hoffler in the past twelve months.
And also on Tuesday, CEO Jerry E. Sheridan bought $304,010 worth of AmeriGas Partners, L.P. (NYSE:APU), buying 7,000 shares at a cost of $43.43 each. This purchase marks the first one filed by Sheridan in the past year. AmeriGas Partners, L.P. is trading up about 0.4% on the day Friday. So far Sheridan is in the green, up about 1.3% on their buy based on today's trading high of $43.99.
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