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 Monday, Parkway Properties Inc. (NYSE:PKY)'s CEO, James R. Heistand, made a $603,734 buy of PKY, purchasing 60,000 shares at a cost of $10.06 each. Heistand was up about 4.2% on the buy at the high point of today's trading session, with PKY trading as high as $10.48 in trading on Tuesday. Before this latest buy, Heistand bought PKY at 2 other times during the past year, for a total cost of $1.27M at an average of $16.99 per share.
And on Friday, Senior Managing Director Peter J. Hoffman bought $248,596 worth of Knight Capital Group Incorporated (NYSE:KCG), buying 19,000 shares at a cost of $13.08 each. Knight Capital Group Incorporated is trading down about 0.5% on the day Tuesday. Hoffman was up about 2.1% on the purchase at the high point of today's trading session, with KCG trading as high as $13.36 at last check today.
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