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.
At Ryman Hospitality Properties, a filing with the SEC revealed that on Friday, Exec. Chairman of the Board Colin V. Reed bought 6,809 shares of RHP, for a cost of $111.59 each, for a total investment of $759,816. So far Reed is in the green, up about 2.1% on their purchase based on today's trading high of $113.94. Ryman Hospitality Properties is trading down about 1.1% on the day Tuesday. Before this latest buy, Reed bought RHP on 3 other occasions during the past year, for a total cost of $4.3M at an average of $104.44 per share.
And at ARMOUR Residential REIT, there was insider buying on Thursday, by Director Robert C. Hain who bought 2,500 shares for a cost of $19.08 each, for a total investment of $47,698. ARMOUR Residential REIT is trading off about 2.5% on the day Tuesday.
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