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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At NSTS Bancorp, a filing with the SEC revealed that on Tuesday, Director Thomas M. Ivantic bought 20,000 shares of NSTS, for a cost of $10.00 each, for a total investment of $200,000. So far Ivantic is in the green, up about 25.9% on their purchase based on today's trading high of $12.59. NSTS Bancorp is trading down about 0.5% on the day Thursday.
And at New York City REIT, there was insider buying on Wednesday, by Director Elizabeth K. Tuppeny who bought 9,200 shares for a cost of $11.83 each, for a trade totaling $108,836. New York City REIT is trading up about 2.5% on the day Thursday. Bargain hunters can bag NYC even cheaper than Tuppeny did, with the stock changing hands as low as $10.88 at last check today which is 8.0% under Tuppeny's purchase price.
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