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.
On Friday, Chesapeake Energy Corp. (NYSE:CHK)'s Director, Thomas L. Ryan, made a $258,700 purchase of CHK, buying 10,000 shares at a cost of $25.87 each. Chesapeake Energy Corp. is trading down about 0.9% on the day Wednesday. Before this latest buy, Ryan bought CHK on 4 other occasions during the past twelve months, for a total investment of $512,270 at an average of $24.39 per share.
And on Monday, President, CEO Louis S. Haddad bought $248,500 worth of Armada Hoffler Properties Inc (NYSE:AHH), buying 25,000 shares at a cost of $9.94 each. Before this latest buy, Haddad made one other purchase in the past twelve months, buying $460,000 shares at a cost of $9.20 each. Armada Hoffler Properties Inc is trading up about 2.7% on the day Wednesday. Haddad was up about 3.4% on the buy at the high point of today's trading session, with AHH trading as high as $10.28 in trading on Wednesday.
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