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 Franklin Street Properties Corp (AMEX:FSP), a filing with the SEC revealed that on Friday, President George J. Carter bought 20,000 shares of FSP, at a cost of $10.07 each, for a total investment of $201,400. Franklin Street Properties Corp is trading up about 0.1% on the day Monday. Before this latest buy, Carter purchased FSP at 2 other times during the past twelve months, for a total investment of $206,304 at an average of $10.32 per share.
And on Wednesday, Director John C. Kelly purchased $200,385 worth of Medicines Co (NASDAQ:MDCO), purchasing 9,150 shares at a cost of $21.90 a piece. This buy marks the first one filed by Kelly in the past twelve months. Medicines Co is trading trading flat on the day Monday. Bargain hunters have the opportunity to snag MDCO even cheaper than Kelly did, with the stock trading as low as $21.46 in trading on Monday -- that's 2.0% under Kelly's purchase price.
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