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 Apartment Investment & Management, a filing with the SEC revealed that on Friday, Director Terry Considine bought 300,000 shares of AIV, for a cost of $5.71 each, for a total investment of $1.71M. Apartment Investment & Management Co is trading up about 2% on the day Monday. This purchase marks the first one filed by Considine in the past twelve months.
And on Wednesday, Director Neil Flanzraich bought $340,078 worth of Chipotle Mexican Grill, buying 230 shares at a cost of $1478.60 each. This buy marks the first one filed by Flanzraich in the past twelve months. Chipotle Mexican Grill is trading up about 2% on the day Monday. Bargain hunters can buy CMG even cheaper than Flanzraich did, with shares trading as low as $1428.79 at last check today which is 3.4% below Flanzraich's purchase price.
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