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 Wednesday, United Insurance Holdings' Director, Alec Poitevint II, made a $317,200 buy of UIHC, purchasing 20,000 shares at a cost of $15.86 a piece. Investors are able to bag UIHC even cheaper than Poitevint II did, with the stock changing hands as low as $15.54 at last check today which is 2.0% under Poitevint II's purchase price. United Insurance Holdings is trading up about 0.2% on the day Friday. Before this latest buy, Poitevint II made one other buy in the past twelve months, purchasing $216,285 shares for a cost of $16.32 a piece.
And on Tuesday, President, CEO Louis S. Haddad bought $229,650 worth of Armada Hoffler Properties, buying 15,000 shares at a cost of $15.31 a piece. Before this latest buy, Haddad made one other buy in the past twelve months, purchasing $222,300 shares for a cost of $14.82 each. Armada Hoffler Properties is trading up about 0.7% on the day Friday.
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