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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Hillenbrand, a filing with the SEC revealed that on Friday, Director Helen W. Cornell purchased 5,200 shares of HI, for a cost of $48.65 each, for a total investment of $252,974. Hillenbrand is trading down about 0.9% on the day Wednesday. This purchase marks the first one filed by Cornell in the past twelve months.
And at Safehold, there was insider buying on Friday, by CHAIRMAN AND CEO Jay Sugarman who purchased 10,000 shares at a cost of $24.58 each, for a trade totaling $245,849. Before this latest buy, Sugarman bought SAFE at 4 other times during the past twelve months, for a total cost of $116,745 at an average of $27.15 per share. Safehold is trading up about 2% on the day Wednesday. So far Sugarman is in the green, up about 4.6% on their purchase based on today's trading high of $25.71.
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