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 Applied Aerospace & Defense, a filing with the SEC revealed that on Thursday, Chief Financial Officer Jeffrey L. McRae bought 25,000 shares of AADX, at a cost of $20.00 each, for a total investment of $500,000. Investors can grab AADX at a price even lower than McRae did, with shares trading as low as $17.25 at last check today which is 13.8% below McRae's purchase price. Applied Aerospace & Defense is trading down about 1.3% on the day Monday. This purchase marks the first one filed by McRae in the past year.
And on Wednesday, CEO Todd C. Brady bought $418,450 worth of Aldeyra Therapeutics, buying 250,000 shares at a cost of $1.67 a piece. Aldeyra Therapeutics is trading up about 11% on the day Monday. Brady was up about 17.4% on the purchase at the high point of today's trading session, with ALDX trading as high as $1.96 in trading on Monday.
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