Top Buys by Top Brass: CFO and Treasurer Sigman's $123K Bet on MITT

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $123K by Brian C. Sigman, CFO and Treasurer at AG Mortgage Investment Trust Inc (MITT).

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Sigman bets big on MITT:
Purchased Insider Title Shares Price/Share Value
03/05/2018 Brian C. Sigman CFO and Treasurer 7,200 $17.09 $123,048.00

Sigman's average cost works out to $17.09/share. In trading on Tuesday, bargain hunters could buy shares of AG Mortgage Investment Trust Inc ( MITT) and achieve a cost basis lower than Sigman, with shares changing hands as low as $16.91 per share. Shares of AG Mortgage Investment Trust Inc were changing hands at $17.11 at last check, trading off about 0.1% on Tuesday. The chart below shows the one year performance of MITT shares, versus its 200 day moving average:

AG Mortgage Investment Trust Inc Chart

Looking at the chart above, MITT's low point in its 52 week range is $16.31 per share, with $19.95 as the 52 week high point — that compares with a last trade of $17.11.

The current annualized dividend paid by AG Mortgage Investment Trust Inc is $1.9/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 12/28/2017. Below is a long-term dividend history chart for MITT, which can be of good help in judging whether the most recent dividend with approx. 11.1% annualized yield is likely to continue.

MITT+Dividend+History+Chart

According to the ETF Finder at ETF Channel, MITT makes up 1.55% of the Mortgage REIT Income ETF ( MORT) which is trading relatively unchanged on the day Tuesday.

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