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.
At Hannon Armstrong Sustainable Infrastructure Capital, a filing with the SEC revealed that on Friday, CEO Jeffrey Eckel bought 15,000 shares of HASI, at a cost of $18.94 each, for a total investment of $284,100. Investors have the opportunity to pick up HASI at a price even lower than Eckel did, with the stock trading as low as $18.17 at last check today -- that's 4.1% under Eckel's purchase price. Hannon Armstrong Sustainable Infrastructure Capital is trading off about 2.1% on the day Tuesday. Before this latest buy, Eckel bought HASI at 2 other times during the past year, for a total investment of $113,812 at an average of $20.60 per share.
And on Thursday, Director John J. Mack purchased $191,500 worth of LendingClub, purchasing 50,000 shares at a cost of $3.83 a piece. Before this latest buy, Mack bought LC on 2 other occasions during the past year, for a total cost of $144,590 at an average of $4.82 per share. LendingClub is trading off about 0.5% on the day Tuesday. Investors have the opportunity to snag LC even cheaper than Mack did, with shares changing hands as low as $3.23 at last check today -- that's 15.7% under Mack's purchase price.
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