Friday 7/15 Insider Buying Report: AA, LMRK
updated Friday, July 15, 10:31 AMBargain 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.
On Wednesday, Alcoa (AA)'s Director, Martin Sorrell, made a $21,363 buy of AA, purchasing 1,990 shares at a cost of $10.74 a piece. Alcoa is trading up about 1.3% on the day Friday. Before this latest buy, Sorrell purchased AA at 3 other times during the past year, for a total investment of $85,899 at an average of $9.33 per share.
And also on Wednesday, Director Matthew P. Carbone purchased $9,943 worth of Landmark Infrastructure Partners LP (LMRK), purchasing 609 shares at a cost of $16.33 each. Before this latest buy, Carbone bought LMRK on 4 other occasions during the past year, for a total investment of $39,785 at an average of $15.33 per share. Landmark Infrastructure Partners LP is trading up about 0.9% on the day Friday. So far Carbone is in the green, up about 2.0% on their purchase based on today's trading high of $16.65.
For MarketNewsVideo.com, I'm Sayoko Murase.