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 American Finance Trust, a filing with the SEC revealed that on Tuesday, Director Lisa Kabnick purchased 100,000 shares of AFIN, for a cost of $10.43 each, for a total investment of $1.04M. Kabnick was up about 12.9% on the buy at the high point of today's trading session, with AFIN trading as high as $11.77 at last check today. American Finance Trust is trading up about 4.1% on the day Thursday. Before this latest buy, Kabnick made one other buy in the past twelve months, purchasing $75,359 shares for a cost of $15.07 each.
And at Gogo, there was insider buying on Tuesday, by Director Charles C. Townsend who bought 100,000 shares at a cost of $5.55 each, for a trade totaling $554,849. Before this latest buy, Townsend bought GOGO on 2 other occasions during the past twelve months, for a total investment of $1.95M at an average of $4.66 per share. Gogo is trading down about 2.7% on the day Thursday. So far Townsend is in the green, up about 8.5% on their buy based on today's trading high of $6.02.
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