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 Thursday, Lonestar Resources' CEO, Frank D. Bracken III, made a $44,175 buy of LONE, purchasing 10,000 shares at a cost of $4.42 a piece. Lonestar Resources is trading up about 3.8% on the day Friday. Before this latest buy, Bracken III purchased LONE at 2 other times during the past year, for a total cost of $176,056 at an average of $4.73 per share.
And at CBRE Clarion Global Real Estate Income Fund, there was insider buying on Tuesday, by Director Asuka Nakahara who bought 4,150 shares at a cost of $7.29 each, for a trade totaling $30,260. This buy marks the first one filed by Nakahara in the past twelve months. CBRE Clarion Global Real Estate Income Fund is trading up about 0.1% on the day Friday. So far Nakahara is in the green, up about 3.1% on their buy based on today's trading high of $7.52.
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