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.
At AG Mortgage Investment Trust (NYSE:MITT), a filing with the SEC revealed that on Monday, Chief Executive Officer David N. Roberts bought 49,519 shares of MITT, for a cost of $16.23 each, for a total investment of $803,711. Investors can bag MITT even cheaper than Roberts did, with shares trading as low as $15.89 in trading on Tuesday -- that's 2.1% under Roberts's purchase price. This purchase marks the first one filed by Roberts in the past year.
And at Lehigh Gas Partners (NYSE:LGP), there was insider buying on Thursday, by Chairman of the Board Joseph V. Topper Jr. who bought 10,000 shares for a cost of $27.28 each, for a total investment of $272,798. This buy marks the first one filed by Topper in the past year. Lehigh Gas Partners is trading down about 0.3% on the day Tuesday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.