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 Thursday, Bridgewater Bancshares' , Todd B. Urness, made a $444,973 buy of BWB, purchasing 25,000 shares at a cost of $17.80 each. Bargain hunters have the opportunity to grab BWB at a price even lower than Urness did, with shares changing hands as low as $17.25 in trading on Friday -- that's 3.1% under Urness's purchase price. Bridgewater Bancshares is trading off about 0.9% on the day Friday. This purchase marks the first one filed by Urness in the past twelve months.
And at Altria Group, there was insider buying on Wednesday, by Director Ellen R. Strahlman who purchased 2,000 shares for a cost of $49.59 each, for a trade totaling $99,176. This buy marks the first one filed by Strahlman in the past year. Altria Group is trading up about 0.3% on the day Friday.
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