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 Tuesday, VICI Properties's Director, James R. Abrahamson, made a $251,450 purchase of VICI, buying 10,000 shares at a cost of $25.14 a piece. VICI Properties is trading off about 2% on the day Thursday. Before this latest buy, Abrahamson purchased VICI on 3 other occasions during the past twelve months, for a total cost of $445,200 at an average of $17.81 per share.
And on Monday, Louis Vachon bought $105,837 worth of Molson Coors Beverage, buying 3,000 shares at a cost of $35.28 each. This buy marks the first one filed by Vachon in the past year. Molson Coors Beverage is trading up about 0.5% on the day Thursday. Bargain hunters are able to bag TAP at a price even lower than Vachon did, with shares trading as low as $33.96 in trading on Thursday -- that's 3.7% below Vachon's purchase price.
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