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.
At Atlantic Power ( AT ), a filing with the SEC revealed that on Monday, EVP Commercial Development Joseph Cofelice purchased 38,070 shares of AT, at a cost of $2.36 each, for a total investment of $90,022. So far Cofelice is in the green, up about 9.1% on their purchase based on today's trading high of $2.58. Atlantic Power Corp is trading down about 1.6% on the day Wednesday. Before this latest buy, Cofelice bought AT on 6 other occasions during the past twelve months, for a total investment of $666,858 at an average of $1.84 per share.
And also on Monday, Director Raymond Victor Marino II bought $50,900 worth of PICO Holdings ( PICO ), buying 5,000 shares at a cost of $10.18 each. This purchase marks the first one filed by Marino II in the past year. PICO Holdings is trading up about 0.9% on the day Wednesday. So far Marino II is in the green, up about 6.8% on their buy based on today's trading high of $10.87.
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.
