As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Tuesday, Blue Foundry Bancorp's Director, Robert Thomas Goldstein, made a $92,700 purchase of BLFY, buying 7,500 shares at a cost of $12.36 each. Goldstein was up about 1.5% on the buy at the high point of today's trading session, with BLFY trading as high as $12.55 in trading on Wednesday. Blue Foundry Bancorp is trading up about 1% on the day Wednesday.
And at Ames National, there was insider buying on Friday, by Director James R. Larson II who bought 500 shares for a cost of $23.50 each, for a total investment of $11,750. Before this latest buy, Larson II purchased ATLO on 11 other occasions during the past twelve months, for a total investment of $77,769 at an average of $22.22 per share. Ames National is trading up about 0.6% on the day Wednesday. Larson II was up about 1.4% on the purchase at the high point of today's trading session, with ATLO trading as high as $23.82 at last check today.
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