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 Friday, Kayne Anderson Energy Development Company (NYSE:KED)'s Executive Vice President, James C. Baker, made a $552,150 buy of KED, purchasing 20,000 shares at a cost of $27.61 a piece. Kayne Anderson Energy Development Company is trading off about 0.3% on the day Monday. Before this latest buy, Baker made one other buy in the past twelve months, purchasing $256,800 shares for a cost of $25.68 a piece.
And on Thursday, V.P. Kim L. Whiteman bought $17,294 worth of A. Schulman (NASDAQ:SHLM), buying 500 shares at a cost of $34.59 each. Before this latest buy, Whiteman made one other buy in the past year, purchasing $25,415 shares at a cost of $31.77 each. Investors have the opportunity to buy SHLM at a price even lower than Whiteman did, with the stock changing hands as low as $33.78 at last check today -- that's 2.3% below Whiteman's purchase price.
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