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, LGI Homes (NASDAQ:LGIH)'s Director, Duncan S. Gage, made a $392,323 purchase of LGIH, buying 26,983 shares at a cost of $14.54 a piece. Gage was up about 8.5% on the purchase at the high point of today's trading session, with LGIH trading as high as $15.78 in trading on Tuesday. LGI Homes is trading up about 0.5% on the day Tuesday.
And on Monday, Director Terry Lee Burman bought $223,800 worth of Abercrombie & Fitch (NYSE:ANF), buying 10,000 shares at a cost of $22.38 a piece. This buy marks the first one filed by Burman in the past twelve months. Abercrombie & Fitch is trading trading flat on the day Tuesday.
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