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 Griffon Corp. (NYSE:GFF), a filing with the SEC revealed that on Monday, CEO Ronald J. Kramer purchased 20,000 shares of GFF, at a cost of $12.88 each, for a total investment of $257,700. Griffon Corp. is trading down about 2% on the day Wednesday. This purchase marks the first one filed by Kramer in the past twelve months.
And also on Monday, CFO A. William Stein purchased $182,400 worth of Digital Realty Trust (NYSE:DLR), purchasing 4,000 shares at a cost of $45.60 a piece. Before this latest buy, Stein made one other purchase in the past twelve months, buying $529,384 shares for a cost of $52.94 each. Digital Realty Trust is trading down about 0.4% on the day Wednesday.
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