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.
On Friday, Roper Technologies (NYSE:ROP)'s Director, Richard F. Wallman, made a $156,175 purchase of ROP, buying 500 shares at a cost of $312.35 a piece. Thus far Wallman is down about 0.8% on the buy, with shares trading as low as $309.82 at last check today. Roper Technologies is trading up about 0.1% on the day Monday. Before this latest buy, Wallman purchased ROP at 3 other times during the past twelve months, for a total investment of $430,045 at an average of $286.70 per share.
And on Wednesday, Director Eric B. Siegel purchased $120,947 worth of Ares Capital (NASDAQ:ARCC), purchasing 6,990 shares at a cost of $17.30 a piece. Ares Capital is trading off about 0.3% on the day Monday.
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