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 two noteworthy recent insider buys.
On Thursday, American Tower (AMT)'s Director, Ronald M. Dykes, made a $277,385 purchase of AMT, buying 2,900 shares at a cost of $95.65 a piece. Dykes was up about 4.0% on the buy at the high point of today's trading session, with AMT trading as high as $99.48 at last check today. American Tower is trading up about 1.4% on the day Monday.
And also on Thursday, President, CEO Louis S. Haddad bought $242,250 worth of Armada Hoffler Properties (AHH), buying 25,000 shares at a cost of $9.69 each. Before this latest buy, Haddad purchased AHH on 2 other occasions during the past twelve months, for a total investment of $708,500 at an average of $9.45 per share. Armada Hoffler Properties is trading trading flat on the day Monday.
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