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, Hartford Financial Services Group Inc. (NYSE:HIG)'s Director, Trevor Fetter, made a $104,600 purchase of HIG, buying 5,000 shares at a cost of $20.92 each. Bargain hunters can pick up HIG even cheaper than Fetter did, with shares changing hands as low as $20.30 in trading on Monday which is 3.0% below Fetter's purchase price. Hartford Financial Services Group Inc. is trading off about 2.7% on the day Monday.
And at Keryx Biopharmaceuticals Inc. (NASDAQ:KERX), there was insider buying on Wednesday, by Chief Executive Officer Ron Bentsur who purchased 71,400 shares for a cost of $1.38 each, for a trade totaling $98,525. Keryx Biopharmaceuticals Inc. is trading off about 6.8% on the day Monday. Bentsur was up about 13.1% on the purchase at the high point of today's trading session, with KERX trading as high as $1.56 at last check today.
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