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 Ampco-Pittsburgh Corp. (NYSE:AP), a filing with the SEC revealed that on Monday, President,Air & Liq. Proc. Group Terrence W. Kenny purchased 2,500 shares of AP, for a cost of $2.90 each, for a total investment of $7,240. So far Kenny is in the green, up about 6.2% on their purchase based on today's trading high of $3.08. Ampco-Pittsburgh Corp. is trading off about 1% on the day Friday.
And at Kingstone Companies (NASDAQ:KINS), there was insider buying on Monday, by Director Floyd R. Tupper who bought 705 shares for a cost of $7.50 each, for a trade totaling $5,286. Before this latest buy, Tupper purchased KINS on 2 other occasions during the past year, for a total cost of $34,450 at an average of $8.61 per share. Kingstone Companies is trading off about 1.4% on the day Friday. So far Tupper is in the green, up about 5.1% on their purchase based on today's trading high of $7.88.
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