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 Ryman Hospitality Properties (NYSE:RHP), a filing with the SEC revealed that on Tuesday, CEO Colin V. Reed purchased 6,142 shares of RHP, for a cost of $79.34 each, for a total investment of $487,291. Reed was up about 0.8% on the purchase at the high point of today's trading session, with RHP trading as high as $80.00 at last check today. Ryman Hospitality Properties is trading off about 0.2% on the day Wednesday. Before this latest buy, Reed purchased RHP at 3 other times during the past year, for a total cost of $2.16M at an average of $67.71 per share.
And on Monday, Director Douglas H. Brooks purchased $98,413 worth of AutoZone (NYSE:AZO), purchasing 162 shares at a cost of $607.49 each. This purchase marks the first one filed by Brooks in the past twelve months. AutoZone is trading up about 0.5% on the day Wednesday.
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