Apparently Christopher B Brogdon (10% Owner) at AdCare Health Systems believes that the future is bright for healthcare, or at least for his company (Long-Term Care Facilities/Health Services). Today he reported buying another 2,000 shares on the open market. This purchase brings his total holdings to 239.44K shares. Mr. Brogdon has been consistently buying during the last 3 month, increasing his overall holdings by 29% over this period.
What makes his recent purchases especially interesting is that he’s buying at the top, in the $2.50 – 2.90 range. Comparing this to $0.50 that the stock was trading at only a year ago makes me wonder if we’re seeing a beginning of a major recovery for this stock.
By the way, ignore the other purchase by Connie B Brogdon, which is just a duplicate transaction reported to the SEC, most likely for legal purposes.