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.
At Transdigm Group (NYSE:TDG), a filing with the SEC revealed that on Friday, Chief Executive Officer W. Nicholas Howley bought 10,815 shares of TDG, at a cost of $185.18 each, for a total investment of $2.00M. Transdigm Group is trading up about 1.9% on the day Monday.
And on Wednesday, Chief Executive Officer Nicholas S. Schorsch bought $154,341 worth of New York REIT (NYRT), buying 15,000 shares at a cost of $10.29 a piece. New York REIT is trading down about 1.4% on the day Monday. So far Schorsch is in the green, up about 2.2% on their purchase based on today's trading high of $10.52.
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