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 Wednesday, American Realty Capital Properties (ARCP)'s EVP and general counsel, Richard A. Silfen, made a $59,842 buy of ARCP, purchasing 4,850 shares at a cost of $12.34 a piece. American Realty Capital Properties is trading down about 0.2% on the day Thursday. Before this latest buy, Silfen made one other buy in the past year, purchasing $88,484 shares at a cost of $11.80 a piece.
And on Monday, Vice President Matthew Bailey Golden bought $53,040 worth of Capital Southwest Corporation (NASDAQ:CSWC), buying 1,500 shares at a cost of $35.36 each. This buy marks the first one filed by Golden in the past year. Capital Southwest Corporation is trading up about 0.9% on the day Thursday. So far Golden is in the green, up about 2.0% on their purchase based on today's trading high of $36.08.
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