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 Agree Realty, a filing with the SEC revealed that on Thursday, CEO Joey Agree bought 13,295 shares of ADC, for a cost of $75.41 each, for a total investment of $1.00M. Agree Realty is trading up about 1.6% on the day Monday. Before this latest buy, Agree bought ADC on 3 other occasions during the past year, for a total cost of $750,478 at an average of $71.62 per share.
And on Wednesday, Director Frank A. Damelio purchased $501,344 worth of Zoetis, purchasing 6,650 shares at a cost of $75.39 a piece. Zoetis Inc is trading up about 3.4% on the day Monday.
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