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 Protective Life Corp. (NYSE:PL), a filing with the SEC revealed that on Tuesday, Director William Michael Warren Jr. purchased 4,000 shares of PL, for a cost of $27.22 each, for a total investment of $108,874. Protective Life Corp. is trading down about 0.4% on the day Tuesday. Before this latest buy, Warren Jr. bought PL on 2 other occasions during the past twelve months, for a total investment of $95,689 at an average of $20.36 per share.
And at Apollo Investment Corporation (NASDAQ:AINV), there was insider buying on Friday, by EVP of Corporate Strategy Eileen M. Patrick who bought 14,285 shares for a cost of $7.00 each, for a total investment of $99,992. So far Patrick is in the green, up about 4.0% on their purchase based on today's trading high of $7.28.
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