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.
On Monday, American Campus Communities (NYSE:ACC)'s CFO, Jonathan Albert Graf, made a $96,000 buy of ACC, purchasing 3,000 shares at a cost of $32.00 each. American Campus Communities is trading up about 2.1% on the day Wednesday. Before this latest buy, Graf bought ACC on 3 other occasions during the past twelve months, for a total cost of $215,200 at an average of $39.13 per share.
And also on Monday, Director John L. Dixon purchased $91,716 worth of Columbia Property Trust (NYSE:CXP), purchasing 4,000 shares at a cost of $22.93 a piece. Before this latest buy, Dixon made one other purchase in the past year, buying $34,524 shares at a cost of $23.02 a piece. Columbia Property Trust is trading off about 0.4% on the day Wednesday.
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