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 Monday, ACNB's Director, Alan J. Stock, made a $281,479 purchase of ACNB, buying 10,000 shares at a cost of $28.15 a piece. ACNB is trading up about 1.1% on the day Tuesday.
And at Mid Penn Bancorp, there was insider buying on Friday, by Director David E. Sparks who bought 1,000 shares at a cost of $25.00 each, for a total investment of $25,000. Mid Penn Bancorp is trading off about 0.4% on the day Tuesday. So far Sparks is in the green, up about 9.4% on their buy based on today's trading high of $27.36.
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