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 Tuesday, Sunoco Logistics Partners (NYSE:SXL)'s CEO, Michael J. Hennigan, made a $249,213 purchase of SXL, buying 7,200 shares at a cost of $34.61 each. So far Hennigan is in the green, up about 1.8% on their buy based on today's trading high of $35.25. Sunoco Logistics Partners L.P. is trading trading flat on the day Thursday.
And also on Tuesday, Harry D. Cohen purchased $200,000 worth of Clearbridge Energy MLP Fund Incorporated (NYSE:CTR), purchasing 10,000 shares at a cost of $20.00 a piece. This buy marks the first one filed by Cohen in the past twelve months. Clearbridge Energy Mlp Fund Incorporated is trading trading flat on the day Thursday.
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