American Express Insider Buy Signals Potential Value
Bargain hunters should pay attention to insider buying, as it often indicates confidence in a company’s future. While insiders have various reasons for selling stocks, their purchases usually signal an expectation of profit. Today, we focus on a significant recent insider buy at American Express.
According to a filing with the SEC, Director Michael J. Angelakis bought 3,700 shares of AXP on Friday, at a purchase price of $269.89 per share, totaling $998,593. Notably, investors can acquire AXP shares for even less than Angelakis paid, with trades reported as low as $253.85 on Tuesday, representing a 5.9% discount from his purchase price. On that same day, American Express shares declined approximately 2.4%. This marks Angelakis’s first insider purchase in the past year.
VIDEO: Tuesday 3/11 Insider Buying report: AXP
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