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 Friday, SM Energy Co. (NYSE:SM)'s Senior VP and General Counsel, David W. Copeland, made a $533,685 buy of SM, purchasing 10,000 shares at a cost of $53.37 each. Bargain hunters can buy SM even cheaper than Copeland did, with shares changing hands as low as $48.67 at last check today which is 8.8% below Copeland's purchase price. SM Energy Co. is trading off about 3.1% on the day Monday. Before this latest buy, Copeland made one other purchase in the past year, buying $1.15M shares for a cost of $76.81 a piece.
And on Wednesday, Director Barry McCarthy bought $470,180 worth of Pandora Media Inc (NYSE:P), buying 45,000 shares at a cost of $10.45 a piece. Before this latest buy, McCarthy made one other purchase in the past twelve months, buying $1.15M shares at a cost of $13.04 a piece. Pandora Media Inc is trading up about 2.2% on the day Monday.
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