Bargain hunters are advised to monitor insider buying activity, as it often indicates confidence in a stock’s potential. Two significant insider purchases have been reported recently.
On Tuesday, September 16, 2023, Joshua Horowitz, Director at Limbach Holdings, bought 7,820 shares (LMB) at $50.00 each, totaling $391,013. His investment has appreciated approximately 6.6%, coinciding with the stock’s trading high of $53.28 on Wednesday. This purchase marks Horowitz’s first insider acquisition in the past year.
In a separate transaction, Christopher J. Abate, CEO of Redwood Trust, also made a notable insider purchase on the same day, acquiring 100,000 shares at $3.84 each for a total of $383,900. Currently, Abate’s investment is up about 3.8%, with shares hitting a high of $3.98 on Wednesday.
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