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 Neonode (NASDAQ:NEON), a filing with the SEC revealed that on Monday, CEO Bjorn Thomas Eriksson bought 50,000 shares of NEON, at a cost of $2.28 each, for a total investment of $113,935. Neonode is trading up about 3.4% on the day Monday. Before this latest buy, Eriksson bought NEON at 3 other times during the past year, for a total investment of $496,305 at an average of $3.68 per share.
And on Wednesday, EVP - Retail Robert Minutoli purchased $103,776 worth of Vornado Realty Trust (NYSE:VNO), purchasing 1,000 shares at a cost of $103.78 each. Before this latest buy, Minutoli purchased VNO on 4 other occasions during the past year, for a total investment of $508,641 at an average of $101.73 per share. Vornado Realty Trust is trading down about 0.7% on the day Monday. Investors are able to bag VNO at a price even lower than Minutoli did, with shares changing hands as low as $101.28 at last check today which is 2.4% under Minutoli's purchase price.
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