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, Avangrid ( AGR )'s Director, Arnold L. Chase, made a $775,250 buy of AGR, purchasing 20,000 shares at a cost of $38.76 each. So far Chase is in the green, up about 1.6% on their buy based on today's trading high of $39.40. Avangrid is trading up about 1% on the day Tuesday.
And on Friday, CEO Robert M. Clements bought $326,500 worth of EverBank Financial Corp ( EVER ), buying 25,000 shares at a cost of $13.06 a piece. This purchase marks the first one filed by Clements in the past twelve months. EverBank Financial Corp is trading up about 1.2% on the day Tuesday. Clements was up about 1.5% on the buy at the high point of today's trading session, with EVER trading as high as $13.26 at last check today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
