As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let's look at two noteworthy recent insider buys.
At Agree Realty Corp. (NYSE:ADC), a filing with the SEC revealed that on Wednesday, Director John Rakolta Jr. bought 13,274 shares of ADC, for a cost of $54.80 each, for a total investment of $727,455. Agree Realty Corp. is trading up about 0.5% on the day Thursday. Before this latest buy, Rakolta Jr. bought ADC on 4 other occasions during the past twelve months, for a total investment of $1.24M at an average of $47.48 per share.
And at SmartFinancial (NASDAQ:SMBK), there was insider buying on Tuesday, by Director James Beaumont Wicks who purchased 10,250 shares for a cost of $24.74 each, for a total investment of $253,613. Before this latest buy, Wicks made one other buy in the past year, purchasing $65,550 shares for a cost of $21.85 a piece. SmartFinancial is trading off about 1.1% on the day Thursday. Investors are able to pick up SMBK even cheaper than Wicks did, with shares trading as low as $23.92 in trading on Thursday which is 3.3% below Wicks's purchase price.
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