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 National Bancshares Corporation Ohio (NBOH), a filing with the SEC revealed that on Tuesday, Director James R. Smail bought 84,170 shares of NBOH, at a cost of $15.00 each, for a total investment of $1.26M. Smail was up about 3.7% on the purchase at the high point of today's trading session, with NBOH trading as high as $15.55 at last check today. National Bancshares Corporation Ohi is trading up about 4.2% on the day Wednesday. Before this latest buy, Smail purchased NBOH at 5 other times during the past twelve months, for a total cost of $129,314 at an average of $14.74 per share.
And on Monday, CEO John K. Morgan purchased $102,900 worth of Zep Inc (NYSE:ZEP), purchasing 7,500 shares at a cost of $13.72 a piece. Zep Inc is trading up about 1.6% on the day Wednesday. Morgan was up about 4.7% on the purchase at the high point of today's trading session, with ZEP trading as high as $14.37 at last check today.
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