Notable Insider Buy In The Past Week: Assured Guaranty
Insider buying can be an encouraging signal for potential investors.
The new earnings season has closed buy windows for many insiders.
One insider kept up a recent streak of purchases.
Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit. So insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty.
With the new earnings reporting season just started, the buy windows for many insiders are closed. One insider kept up a recent streak of purchases, however.
Assured Guaranty Ltd. (NYSE: AGO) saw its chief investment officer add another 35,100 shares in the past week. At prices ranging from $45.25 to $46.52 a share, that totaled more than $1.61 million. That officer has added more than 129,000 shares to his stake so far this month.
Assured Guaranty completed its acquisition of BlueMountain Capital Management earlier this month. Assured Guaranty shares were trading at $46.83 each on last look, above the top of the latest purchase price range. The stock seems to be taking another run at its 52-week high of $47.97 from last May, and the consensus price target is $55.25.
See also: Benzinga's Bulls And Bears Of The Week: Beyond Meat, Netflix, Johnson & Johnson And More
Note that some insider buying was reported at the following companies last week as well:
Athenex Inc (NASDAQ: ATNX)
German American Bancorp., Inc. (NASDAQ: GABC)
istar Inc (NYSE: STAR)
Quanta Services Inc (NYSE: PWR)
Stock Yards Bancorp Inc (NASDAQ: SYBT)
Texas Pacific Land Trust (NYSE: TPL)
York Water Co (NASDAQ: YORW)
At the time of this writing, the author had no position in the mentioned equities.
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