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.
On Wednesday, Glu Mobile Inc (NASDAQ:GLUU)'s Director, Matthew A. Drapkin, made a $1.34M purchase of GLUU, buying 447,097 shares at a cost of $3.00 a piece. Glu Mobile Inc is trading down about 1.9% on the day Monday. No other insiders have filed purchases of GLUU in the past twelve months.
And at Kronos Worldwide Inc (NYSE:KRO), there was insider buying on Thursday, by Director Glenn R. Simmons who purchased 10,000 shares at a cost of $16.89 each, for a total investment of $168,856. In the past year, 2 other insiders purchased KRO, in 14 transactions, for a total investment of $1.52M at an average of $22.23 per share. Kronos Worldwide Inc is trading down about 1.3% on the day Monday. Simmons was up about 7.4% on the purchase at the high point of today's trading session, with KRO trading as high as $18.14 in trading on Monday.
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