Bargain 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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Tuesday, Gaming & Leisure Properties’, Earl C. Shanks, made a $422,400 buy of GLPI, purchasing 10,000 shares at a cost of $42.24 each. Shanks was up about 3.8% on the purchase at the high point of today’s trading session, with GLPI trading as high as $43.83 in trading on Thursday. Gaming & Leisure Properties is trading up about 2.1% on the day Thursday. This buy marks the first one filed by Shanks in the past year.
And on Monday, Executive Chairman John Mazarakis bought $256,325 worth of Chicago Atlantic Real Estate Finance, buying 25,000 shares at a cost of $10.25 each. Before this latest buy, Mazarakis purchased REFI on 2 other occasions during the past year, for a total cost of $195,225 at an average of $12.60 per share. Chicago Atlantic Real Estate Finance is trading up about 0.8% on the day Thursday. Mazarakis was up about 6.6% on the buy at the high point of today’s trading session, with REFI trading as high as $10.93 at last check today.
VIDEO: Thursday 8/20 Insider Buying Report: GLPI, REFI
