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 Alexander & Baldwin (NYSE:ALEX), there was insider buying on Monday, by Director David C. Hulihee who bought 10,506 shares for a cost of $37.81 each, for a trade totaling $397,274. Before this latest buy, Hulihee purchased ALEX at 2 other times during the past twelve months, for a total investment of $534,385 at an average of $37.06 per share. Alexander & Baldwin is trading down about 0.5% on the day Friday. Hulihee was up about 6.9% on the purchase at the high point of today's trading session, with ALEX trading as high as $40.41 in trading on Friday.
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