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 Allegiance Bancshares (NASDAQ:ABTX), a filing with the SEC revealed that on Friday, President Steven F. Retzloff bought 15,000 shares of ABTX, at a cost of $31.30 each, for a total investment of $469,437. So far Retzloff is in the green, up about 6.9% on their purchase based on today's trading high of $33.45. Allegiance Bancshares is trading up about 2% on the day Wednesday.
And on Monday, Chief Executive Officer AJ Teague purchased $243,600 worth of Enterprise Products Partners L.P. (NYSE:EPD), purchasing 10,000 shares at a cost of $24.36 a piece. Before this latest buy, Teague purchased EPD at 5 other times during the past twelve months, for a total investment of $1.84M at an average of $25.23 per share. Enterprise Products Partners L.P. is trading flat on the day Wednesday.
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