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 Agree Realty, a filing with the SEC revealed that on Wednesday, John Rakolta Jr. bought 11,000 shares of ADC, for a cost of $71.38 each, for a total investment of $785,180. Bargain hunters are able to buy ADC at a price even lower than Rakolta Jr. did, with shares trading as low as $70.11 at last check today -- that's 1.8% under Rakolta Jr.'s purchase price. Agree Realty is trading down about 0.5% on the day Friday. Before this latest buy, Rakolta Jr. made one other buy in the past twelve months, purchasing $14,503 shares for a cost of $68.09 a piece.
And on Thursday, PRESIDENT Jason H. Brady bought $425,763 worth of Thornburg Income Builder Opportunities Trust, buying 30,000 shares at a cost of $14.19 a piece. Before this latest buy, Brady made one other purchase in the past twelve months, buying $979,032 shares for a cost of $18.83 each. Thornburg Income Builder Opportunities Trust is trading down about 0.7% on the day Friday.
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