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 Friday, Armstrong Flooring's SVP, CFO, Amy Trojanowski, made a $167,300 purchase of AFI, buying 30,000 shares at a cost of $5.58 each. So far Trojanowski is in the green, up about 8.8% on their purchase based on today's trading high of $6.07. Armstrong Flooring is trading down about 1.2% on the day Wednesday.
And at Lumber Liquidators Holdings, there was insider buying on Friday, by Director Joseph M. Nowicki who purchased 6,274 shares for a cost of $23.94 each, for a total investment of $150,205. Lumber Liquidators Holdings is trading off about 3.1% on the day Wednesday.
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