As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Wednesday, CECO Environmental's , Richard F. Wallman, made a $109,749 purchase of CECO, buying 5,000 shares at a cost of $21.95 a piece. Wallman was up about 4.6% on the buy at the high point of today's trading session, with CECO trading as high as $22.96 in trading on Thursday. CECO Environmental is trading up about 4% on the day Thursday. Before this latest buy, Wallman purchased CECO on 3 other occasions during the past year, for a total cost of $1.31M at an average of $18.25 per share.
And on Monday, James H. Dahl bought $105,200 worth of AMREP, buying 5,000 shares at a cost of $21.04 each. Before this latest buy, Dahl bought AXR at 17 other times during the past twelve months, for a total investment of $2.09M at an average of $20.52 per share. AMREP is trading up about 1.6% on the day Thursday. Investors can pick up AXR even cheaper than Dahl did, with shares changing hands as low as $20.17 in trading on Thursday which is 4.1% below Dahl's purchase price.
VIDEO: Thursday 5/2 Insider Buying Report: CECO, AXR
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