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 Acuity Brands (NYSE:AYI), a filing with the SEC revealed that on Tuesday, Director George Douglas Dillard Jr. bought 5,000 shares of AYI, for a cost of $112.76 each, for a total investment of $563,800. Acuity Brands is trading up about 0.4% on the day Wednesday. This purchase marks the first one filed by Dillard Jr. in the past year.
And on Monday, Chairman Alan H. Fishman bought $250,644 worth of Ladder Capital (NYSE:LADR), buying 17,500 shares at a cost of $14.32 each. Ladder Capital is trading up about 0.5% on the day Wednesday. Fishman was up about 0.6% on the buy at the high point of today's trading session, with LADR trading as high as $14.41 in trading on Wednesday.
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