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 Howard Hughes Corp (HHC), a filing with the SEC revealed that on Wednesday, Chief Executive Officer Paul H. Layne purchased 480 shares of HHC, for a cost of $124.78 each, for a total investment of $59,894. So far Layne is in the green, up about 0.6% on their buy based on today's trading high of $125.54. Howard Hughes Corp is trading trading flat on the day Monday.
And on Thursday, Director James S. Macleod purchased $39,960 worth of Allianzgi Artificial Intelligence & Technology (AIO), purchasing 2,000 shares at a cost of $19.98 a piece. Allianzgi Artificial Intelligence & Technology is trading down about 0.1% on the day Monday.
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