Wednesday 9/16 Insider Buying Report: LMB, RWT Wednesday, September 16, 1:45 PM ET
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 Limbach Holdings, a filing with the SEC revealed that on Tuesday, Director Joshua Horowitz purchased 7,820 shares of LMB, at a cost of $50.00 each, for a total investment of $391,013. So far Horowitz is in the green, up about 6.6% on their buy based on today's trading high of $53.28. Limbach Holdings is trading up about 5% on the day Wednesday. This buy marks the first one filed by Horowitz in the past twelve months.
And at Redwood Trust, there was insider buying on Tuesday, by Chief Executive Officer Christopher J. Abate who bought 100,000 shares at a cost of $3.84 each, for a trade totaling $383,900. Redwood Trust is trading up about 0.4% on the day Wednesday. So far Abate is in the green, up about 3.8% on their buy based on today's trading high of $3.98.
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