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 one noteworthy recent insider buy.
At Cedar Realty Trust (NYSE:CDR), there was insider buying on Monday, by President & CEO Bruce J. Schanzer who bought 4,000 shares at a cost of $5.99 each, for a total investment of $23,960. Before this latest buy, Schanzer purchased CDR on 3 other occasions during the past twelve months, for a total cost of $219,358 at an average of $5.98 per share. Cedar Realty Trust, Inc. is trading off about 0.5% on the day Wednesday. Schanzer was up about 1.5% on the purchase at the high point of today's trading session, with CDR trading as high as $6.08 at last check today.
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