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 Agree Realty, a filing with the SEC revealed that on Monday, John Rakolta Jr. bought 10,495 shares of ADC, at a cost of $67.85 each, for a total investment of $712,086. Agree Realty is trading up about 0.3% on the day Wednesday. Before this latest buy, Rakolta Jr. made one other purchase in the past year, buying $785,180 shares for a cost of $71.38 each.
And also on Monday, Vice Chair James B. Kelligrew bought $497,475 worth of US Bancorp, buying 16,260 shares at a cost of $30.59 a piece. US Bancorp is trading down about 0.8% on the day Wednesday.
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