Friday 6/12 Insider Buying Report: STEP, AII
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, StepStone Group's Head of Strategy, Michael I. McCabe, made a $5.02M buy of STEP, purchasing 120,000 shares at a cost of $41.85 each. So far McCabe is in the green, up about 12.4% on their purchase based on today's trading high of $47.05. StepStone Group is trading up about 3.6% on the day Friday.
And on Tuesday, James E. Sowell bought $2.30M worth of American Integrity Insurance Group, buying 136,356 shares at a cost of $16.88 a piece. This purchase marks the first one filed by Sowell in the past year. American Integrity Insurance Group Inc is trading up about 1.3% on the day Friday. So far Sowell is in the green, up about 2.3% on their purchase based on today's trading high of $17.26.
VIDEO: Friday 6/12 Insider Buying Report: STEP, AII