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 Monday, Life Time Group Holdings' CEO, Bahram Akradi, made a $1.14M purchase of LTH, buying 90,000 shares at a cost of $12.70 each. Life Time Group Holdings is trading up about 6.7% on the day Tuesday. Before this latest buy, Akradi purchased LTH at 2 other times during the past twelve months, for a total investment of $840,566 at an average of $16.81 per share.
And at Black Stone Minerals, there was insider buying on Friday, by CEO and Chairman Thomas L. Carter Jr. who bought 50,000 shares at a cost of $18.31 each, for a trade totaling $915,432. Before this latest buy, Carter Jr. purchased BSM on 3 other occasions during the past year, for a total investment of $2.3M at an average of $16.09 per share. Black Stone Minerals is trading down about 1.4% on the day Tuesday. Investors can buy BSM even cheaper than Carter Jr. did, with shares changing hands as low as $17.73 in trading on Tuesday -- that's 3.2% below Carter Jr.'s purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
