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 MSVB (NASDAQ:MSVB), a filing with the SEC revealed that on Wednesday, Director Brent A. Rosenbaum purchased 10,000 shares of MSVB, for a cost of $10.00 each, for a total investment of $100,000. Rosenbaum was up about 24.5% on the buy at the high point of today's trading session, with MSVB trading as high as $12.45 in trading on Monday. MSVB is trading up about 0.4% on the day Monday.
And on Thursday, CFO John Kirchmann bought $98,730 worth of Investors Real Estate Trust (NYSE:IRET), buying 18,000 shares at a cost of $5.49 each. Before this latest buy, Kirchmann purchased IRET at 3 other times during the past year, for a total cost of $101,471 at an average of $5.67 per share. Investors Real Estate Trust is trading trading flat on the day Monday.
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