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 Banc Of California (NYSE:BANC), a filing with the SEC revealed that on Thursday, CFO John A. Bogler purchased 20,000 shares of BANC, for a cost of $19.30 each, for a total investment of $386,000. So far Bogler is in the green, up about 2.3% on their purchase based on today's trading high of $19.75. Banc Of California is trading up about 2.1% on the day Monday.
And at Mid-America Apartment Communities (NYSE:MAA), there was insider buying on Friday, by Director William Reid Sanders who bought 4,100 shares for a cost of $90.98 each, for a total investment of $373,006. Before this latest buy, Sanders made one other buy in the past twelve months, purchasing $700,798 shares for a cost of $100.11 a piece. Mid-America Apartment Communities is trading up about 0.7% on the day Monday. Sanders was up about 2.8% on the buy at the high point of today's trading session, with MAA trading as high as $93.49 in trading on Monday.
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