As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.
At Medalist Diversified REIT, a filing with the SEC revealed that on Friday, CEO & PRESIDENT Frank Kavanaugh purchased 41,600 shares of MDRR, at a cost of $5.64 each, for a total investment of $234,641. So far Kavanaugh is down about 0.0% on the purchase, with shares changing hands as low as $5.64 in trading on Tuesday. Medalist Diversified REIT is trading down about 0.2% on the day Tuesday. Before this latest buy, Kavanaugh made one other purchase in the past year, buying $206,476 shares for a cost of $5.61 each.
And at Globe Life, there was insider buying on Thursday, by CEO James Matthew Darden who purchased 2,000 shares for a cost of $84.82 each, for a trade totaling $169,646. Globe Life Inc is trading down about 4.3% on the day Tuesday. Investors can buy GL even cheaper than Darden did, with the stock trading as low as $80.87 at last check today — that’s 4.7% under Darden’s purchase price.
VIDEO: Tuesday 5/21 Insider Buying Report: MDRR, GL
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