Insiders Buying General American Investors Company And 2 Other Stocks
Although U.S. stocks closed mixed on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.
AMREP
- The Trade: AMREP Corporation (NYSE:AXR) 10% owner Rainey E. Lancaster acquired a total of 3,000 shares an average price of $22.20. To acquire these shares, it cost around $66,600.
- What’s Happening: On March 8, AMREP reported earnings of 2 cents per share for its 2024 fiscal third quarter, versus year-ago earnings of $3.12 per share.
- What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.
Ares Commercial Real Estate
- The Trade: Ares Commercial Real Estate Corporation (NYSE:ACRE) CEO Bryan Patrick Donohoe acquired a total of 3,509 shares at an average price of $14.33. To acquire these shares, it cost around $50,266.
- What’s Happening: On March 4, B of A Securities analyst Eric Dray downgraded Ares Commercial Real Estate from Buy to Underperform and lowered the price target from $11 to $7.
- What Ares Commercial Real Estate Does: Ares Commercial Real Estate Corp is a specialty finance company and a Real Estate Investment Trust providing commercial real estate loans and related investments.
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General American Investors
- The Trade: General American Investors Company, Inc. (NYSE:GAM) President and CEO Jeffrey W Priest bought a total of 4,000 shares at an average price of $25.09. To acquire these shares, it cost around $100,350.
- What’s Happening: The company’s stock gained around 8% year-to-date.
- What General American Investors Does: General American Investors Company Inc is a closed-end, diversified management investment company.
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