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 American Homes 4 Rent (NYSE:AMH), a filing with the SEC revealed that on Thursday, Director B. Wayne Hughes ET AL purchased 690,955 shares of AMH, at a cost of $21.88 each, for a total investment of $15.12M. So far Hughes is in the green, up about 2.0% on their buy based on today's trading high of $22.33. American Homes 4 Rent is trading up about 1.5% on the day Friday. Before this latest buy, Hughes purchased AMH on 4 other occasions during the past year, for a total investment of $106.32M at an average of $22.27 per share.
And at Hain Celestial Group (NASDAQ:HAIN), there was insider buying on Thursday, by Pres., CEO & Chairman of Bd Irwin D. Simon who bought 50,000 shares for a cost of $34.14 each, for a total investment of $1.71M. This buy marks the first one filed by Simon in the past year. Hain Celestial Group Inc is trading up about 2.2% on the day Friday. Simon was up about 4.3% on the purchase at the high point of today's trading session, with HAIN trading as high as $35.61 in trading on Friday.
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