CEO Richard D Kurtz bought 1,000 shares of API stock on 03/16/2011 at the average price of 1.64. Richard D Kurtz owns at least 230,941 shares after this.
CFO Recent Trades:
CFO Jeffrey J Anderson bought 200 shares of API stock on 08/31/2011 at the average price of 0.96. Jeffrey J Anderson owns at least 100,200 shares after this.
Director Donald Pastor bought 15,000 shares of API stock on 08/17/2011 at the average price of 1.02. Donald Pastor owns at least 113,274 shares after this.
For the complete insider trading history of API, click here.
Why CEOs Are Buying Stocks Of Their Own Companies?
As legendary investor Peter Lynch said: "Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
TOP EXECUTIVES like CEOs and CFOs are savvy buyers of their companies' shares. One long-term study showed that they beat the market on average by six percentage points a year.
Another study found that the aggregated activities of insiders can serve as a good indicator to locate market bottoms. Insiders as a whole are smart investors of their own companies.
A One of a Kind Wide Moat Business Growing 8% a Year
The Buffett/Munger Bargain Newsletter May's pick has grown sales 8% a year and EPS 15% a year over the last 10 years. It still has plenty of room to grow. And the business model has shown it can grow earnings and EBITDA much faster than revenue as it scales up.