While U.S. stocks wrapped up the trading day in a mixed frenzy on Wednesday, the shimmer of insider trades shone through the clouds.
When insiders dive into purchasing shares, they aren’t just testing the waters. Their actions convey faith in the company’s potential or signal a good ol’ fashioned bargain. It’s like spotting a flash sale – blink, and you might miss the boat. This isn’t the be all and end all for investment decisions, but it’s certainly a cherry on top of the investment sundae.
Let’s take a peek at a few recent shining stars in the world of insider purchases. For a deeper delve, dive into Benzinga’s treasure trove of insider intel.
AMREP
- The Scoop: AMREP Corporation AXR 10% owner Rainey E. Lancaster snapped up a total of 3,000 shares at an average price of $22.20. The price tag for this stock stash? A cool $66,600.
- Market Murmurs: On March 8, AMREP flaunted earnings of 2 cents per share for its 2024 fiscal third quarter, in comparison to $3.12 per share from the previous year.
- The Lowdown on AMREP: Amrep Corp dips its toes in the real estate business through its subsidiaries.
Ares Commercial Real Estate
- The Scoop: Ares Commercial Real Estate Corporation ACRE CEO Bryan Patrick Donohoe decided to nab a total of 3,509 shares at an average price of $14.33. The bill for this shopping spree rang up at approximately $50,266.
- Market Murmurs: On March 4, Eric Dray from B of A Securities cast a shadow over Ares Commercial Real Estate by downgrading it from Buy to Underperform and slashing the price target from $11 to $7.
- The Lowdown on Ares Commercial Real Estate: Ares Commercial Real Estate Corp struts its stuff as a specialty finance company and a real estate investment trust, playing the commercial real estate loan game.
Don’t forget to check out our premarket coverage here.
General American Investors
- The Scoop: General American Investors Company, Inc. GAM President and CEO Jeffrey W Priest couldn’t resist the allure and scooped up a total of 4,000 shares at an average price of $25.09. The tab for this buy? A hefty $100,350.
- Market Musings: The company’s stock has sprouted by roughly 8% since the beginning of the year.
- The Lowdown on General American Investors: General American Investors Company Inc stands tall as a closed-end, diversified management investment company.
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