As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Marriott Vacations Worldwide Corp (NYSE:VAC), a filing with the SEC revealed that on Tuesday, CFO John E. Geller Jr. bought 10,000 shares of VAC, at a cost of $18.54 each, for a total investment of $185,400. Bargain hunters can grab VAC at a price even lower than the CEO did, with shares trading as low as $17.26 in trading on Friday. Marriott Vacations Worldwide Corp is trading down about 0.6% on the day Friday.
And at Affymax Inc (AFFY), there was insider buying on Monday, by Director John Peter Walker who bought 16,540 shares for a cost of $6.13 each, for a trade totaling $101,364. No other insiders have filed purchases of AFFY in the past year. Affymax Inc is trading off about 1.9% on the day Friday. Walker was up about 10.3% on the buy at the high point of today's trading session, with AFFY trading as high as $6.76 at last check today.
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