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 one noteworthy recent insider buy.
At ARMOUR Residential REIT (NYSE:ARR), there was insider buying on Monday, by Co-CEO and President Jeffrey J. Zimmer who purchased 10,000 shares at a cost of $20.89 each, for a trade totaling $208,920. Before this latest buy, Zimmer purchased ARR on 2 other occasions during the past year, for a total investment of $514,477 at an average of $20.58 per share. ARMOUR Residential REIT is trading up about 1.5% on the day Thursday. So far Zimmer is in the green, up about 4.1% on their buy based on today's trading high of $21.75.
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