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 one noteworthy recent insider buy.
On Friday, Ladenburg Thalmann Financial Services (AMEX:LTS)'s Director, Richard J. Rosenstock, made a $13,385 purchase of LTS, buying 5,000 shares at a cost of $2.68 a piece. Investors are able to grab LTS even cheaper than Rosenstock did, with the stock changing hands as low as $2.58 at last check today -- that's 3.6% under Rosenstock's purchase price. Ladenburg Thalmann Financial Services is trading down about 1.5% on the day Tuesday. Before this latest buy, Rosenstock purchased LTS on 4 other occasions during the past twelve months, for a total cost of $70,363 at an average of $2.01 per share.
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