Monday 3/31 Insider Buying Report: CLDT, ALG
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.
On Wednesday, Chatham Lodging Trust ( CLDT )'s CEO, Jeffrey H. Fisher, made a $102,600 buy of CLDT, purchasing 5,000 shares at a cost of $20.52 each. Bargain hunters can pick up CLDT even cheaper than Fisher did, with the stock changing hands as low as $20.07 in trading on Monday which is 2.2% under Fisher's purchase price. Chatham Lodging Trust is trading up about 0.6% on the day Monday. Before this latest buy, Fisher made one other purchase in the past twelve months, buying $4,610 shares for a cost of $18.44 each.
And on Friday, Director Roderick R. Baty purchased $101,540 worth of Alamo Group ( ALG ), purchasing 2,000 shares at a cost of $50.77 a piece. Alamo Group is trading up about 3.4% on the day Monday. So far Baty is in the green, up about 5.2% on their purchase based on today's trading high of $53.39.