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.
On Thursday, American Homes 4 Rent (NYSE:AMH)'s Director, B. Wayne Hughes, made a $20M buy of AMH, purchasing 991,100 shares at a cost of $20.18 a piece. So far Hughes is in the green, up about 2.9% on their purchase based on today's trading high of $20.76. American Homes 4 Rent is trading up about 1.2% on the day Friday. Before this latest buy, Hughes purchased AMH on 5 other occasions during the past twelve months, for a total cost of $28.43M at an average of $21.70 per share.
And at Gaming & Leisure Properties (NASDAQ:GLPI), there was insider buying on Monday, by E. Scott Urdang who bought 14,000 shares for a cost of $33.72 each, for a total investment of $472,080. Before this latest buy, Urdang made one other purchase in the past year, buying $105,960 shares at a cost of $35.32 a piece. Gaming & Leisure Properties is trading down about 0.2% on the day Friday. So far Urdang is in the green, up about 1.0% on their purchase based on today's trading high of $34.07.
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