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 Abercrombie & Fitch Co. (NYSE:ANF), a filing with the SEC revealed that on Tuesday, Director Craig R. Stapleton purchased 10,000 shares of ANF, for a cost of $35.43 each, for a total investment of $354,295. Abercrombie & Fitch Co. is trading up about 0.1% on the day Thursday. This purchase marks the first one filed by Stapleton in the past year.
And also on Tuesday, CFO Richard J. Diemer Jr. purchased $192,412 worth of PolyOne Corp. (NYSE:POL), purchasing 15,000 shares at a cost of $12.83 each. Before this latest buy, Diemer Jr. purchased POL at 2 other times during the past year, for a total cost of $471,350 at an average of $13.47 per share. PolyOne Corp. is trading up about 0.7% on the day Thursday. So far Diemer Jr. is in the green, up about 2.5% on their purchase based on today's trading high of $13.15.
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