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 Hess Corp (NYSE:HES), a filing with the SEC revealed that on Thursday, Director John H. Mullin III purchased 10,000 shares of HES, at a cost of $53.63 each, for a total investment of $536,257. Hess Corp is trading down about 2.6% on the day Thursday. Before this latest buy, Mullin purchased HES at 2 other times during the past year, for a total investment of $573,561 at an average of $55.22 per share.
And on Tuesday, Director Duncan M. McFarland bought $254,800 worth of NYSE Euronext (NYSE:NYX), buying 10,000 shares at a cost of $25.48 a piece. Before this latest buy, McFarland purchased NYX at 3 other times during the past year, for a total investment of $827,804 at an average of $27.59 per share. NYSE Euronext is trading off about 1.4% on the day Thursday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.