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.
At Alleghany, a filing with the SEC revealed that on Friday, Director Lauren M. Tyler bought 1,485 shares of Y, for a cost of $668.61 each, for a total investment of $992,885. Alleghany is trading off about 0.7% on the day Monday. This purchase marks the first one filed by Tyler in the past twelve months.
And on Thursday, CEO and President David N. Roberts bought $826,500 worth of AG Mortgage Investment Trust, buying 50,000 shares at a cost of $16.53 each. Before this latest buy, Roberts made one other buy in the past twelve months, purchasing $852,500 shares at a cost of $17.05 a piece. AG Mortgage Investment Trust is trading down about 0.6% on the day Monday.
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