Insider Bets Paying Off At ADC As New 52-Week High Reached

In trading on Friday, shares of Agree Realty Corp. (Symbol: ADC) touched a new 52-week high of $80.51/share. That's a 28.65% rise, or $17.93 per share from the 52-week low of $62.58 set back on 07/22/2019. That means at today's intraday high, any investor who purchased ADC stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, ADC has seen 4 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
12/09/2019 Greg Lehmkuhl Director 500 $72.69 $36,345.00
12/12/2019 Greg Lehmkuhl Director 500 $69.55 $34,775.00
12/16/2019 Richard Agree Executive Chairman of Board 22,000 $68.33 $1,503,180.00
12/17/2019 William S. Rubenfaer Director 2,000 $67.92 $135,840.00
12/16/2019 Craig Erlich Director 273 $68.36 $18,662.47

The chart below shows where ADC has traded over the past year, with the 50-day and 200-day moving averages included.

Agree Realty Corp. Moving Averages Chart

In afternoon trading on Friday, ADC shares are changing hands at $78.92/share, slightly below the new 52-week high.

Ten Bargains You Can Buy Cheaper Than The Insiders Did »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Other Topics


Latest Markets Videos