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 Cedar Realty Trust (CDR), a filing with the SEC revealed that on Wednesday, Pres. & Chief Exec. Officer Bruce J. Schanzer purchased 17,000 shares of CDR, at a cost of $5.97 each, for a total investment of $101,488. Cedar Realty Trust, Inc. is trading up about 1% on the day Thursday. Before this latest buy, Schanzer bought CDR at 2 other times during the past twelve months, for a total investment of $117,870 at an average of $5.99 per share.
And at Methode Electronics (MEI), there was insider buying on Tuesday, by Director Paul G. Shelton who purchased 3,000 shares for a cost of $30.14 each, for a trade totaling $90,420. Methode Electronics is trading up about 1.4% on the day Thursday. So far Shelton is in the green, up about 7.1% on their buy based on today's trading high of $32.29.
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