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.
On Thursday, James River Group Holdings' Director, J. Adam Abram, made a $489,463 buy of JRVR, purchasing 24,000 shares at a cost of $20.39 a piece. James River Group Holdings is trading off about 3.2% on the day Friday. This buy marks the first one filed by Abram in the past twelve months.
And at Gaming & Leisure Properties, there was insider buying on Tuesday, by Urdang E. Scott who purchased 5,516 shares at a cost of $45.37 each, for a total investment of $250,261. Before this latest buy, Scott purchased GLPI at 2 other times during the past year, for a total investment of $183,340 at an average of $45.84 per share. Gaming & Leisure Properties is trading down about 0.2% on the day Friday. Scorr was up about 1.6% on the buy at the high point of today's trading session, with GLPI trading as high as $46.11 in trading on Friday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
