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 $358,660 purchase of PKY, buying 35,000 shares at a cost of $10.25 each. Heistand was up about 1.7% on the purchase at the high point of today's trading session, with PKY trading as high as $10.42 in trading on Friday. Parkway Properties Inc. is trading down about 1.1% on the day Friday. Before this latest buy, Heistand purchased PKY on 6 other occasions during the past year, for a total investment of $3.23M at an average of $12.19 per share.
And on Wednesday, Director Michael A. Warehime bought $254,982 worth of Snyder's-Lance Inc. (NASDAQ:LNCE), buying 10,000 shares at a cost of $25.50 a piece. Before this latest buy, Warehime purchased LNCE on 18 other occasions during the past twelve months, for a total cost of $5.69M at an average of $21.19 per share. Snyder's-Lance Inc. is trading down about 0.3% on the day Friday.
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