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.
On Friday, Interval Leisure Group (IILG)'s Director, Thomas O. Ryder, made a $440,400 buy of IILG, purchasing 30,000 shares at a cost of $14.68 a piece. Ryder was up about 3.1% on the purchase at the high point of today's trading session, with IILG trading as high as $15.13 at last check today. Interval Leisure Group is trading up about 2.5% on the day Tuesday.
And on Monday, Executive Chairman Eric F. Billings bought $251,516 worth of Arlington Asset Investment Corp (NYSE:AI), buying 18,516 shares at a cost of $13.58 each. Arlington Asset Investment Corp is trading up about 0.7% on the day Tuesday. So far Billings is in the green, up about 3.2% on their purchase based on today's trading high of $14.02.
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