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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At National Health Investors, a filing with the SEC revealed that on Wednesday, Director Robert G. Adams purchased 5,000 shares of NHI, at a cost of $66.35 each, for a total investment of $331,770. Bargain hunters can grab NHI even cheaper than Adams did, with the stock trading as low as $62.96 in trading on Thursday which is 5.1% under Adams's purchase price. National Health Investors is trading up about 1.6% on the day Thursday. Before this latest buy, Adams made one other purchase in the past year, buying $20,553 shares for a cost of $48.36 a piece.
And at Tenneco, there was insider buying on Tuesday, by Director John S. Stroup who bought 22,623 shares for a cost of $8.87 each, for a total investment of $200,666. This purchase marks the first one filed by Stroup in the past year. Tenneco is trading up about 4.2% on the day Thursday. So far Stroup is in the green, up about 20.2% on their buy based on today's trading high of $10.66.
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