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 Solar Capital, a filing with the SEC revealed that on Thursday, See Remarks Bruce J. Spohler bought 19,666 shares of SLRC, at a cost of $22.28 each, for a total investment of $438,158. Solar Capital is trading up about 0.1% on the day Monday.
And on Friday, Chief Executive Officer George G. Ellison bought $289,378 worth of Altisource Residential, buying 20,000 shares at a cost of $14.47 a piece. Before this latest buy, Ellison made one other purchase in the past year, buying $248,675 shares for a cost of $11.30 a piece. Altisource Residential is trading off about 0.3% on the day Monday. Investors can buy RESI at a price even lower than Ellison did, with the stock changing hands as low as $13.83 in trading on Monday which is 4.4% under Ellison's purchase price.
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