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 Friday, Annaly Capital Management ( NLY )'s Chief Investment Officer, David L. Finkelstein, made a $1.25M purchase of NLY, buying 100,000 shares at a cost of $12.49 a piece. Annaly Capital Management is trading trading flat on the day Tuesday. Before this latest buy, Finkelstein made one other purchase in the past year, buying $1.03M shares for a cost of $10.30 a piece.
And on Thursday, Director Dennis J. McGillicuddy purchased $988,000 worth of Franklin Street Properties ( FSP ), purchasing 100,000 shares at a cost of $9.88 each. Franklin Street Properties is trading up about 1% on the day Tuesday. So far McGillicuddy is in the green, up about 3.2% on their purchase based on today's trading high of $10.20.
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.
