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 Children's Place Retail Stores, Inc. (NASDAQ:PLCE), a filing with the SEC revealed that on Friday, Director Norman S. Matthews bought 15,000 shares of PLCE, at a cost of $44.57 each, for a total investment of $668,550. Matthews was up about 9.6% on the purchase at the high point of today's trading session, with PLCE trading as high as $48.83 at last check today. Children's Place Retail Stores, Inc. is trading up about 2.8% on the day Tuesday.
And also on Friday, Director William M. Webster IV bought $176,900 worth of LKQ Corp (NASDAQ:LKQ), buying 5,000 shares at a cost of $35.38 each. Before this latest buy, Webster IV made one other buy in the past year, purchasing $171,100 shares at a cost of $34.22 each. LKQ Corp is trading up about 1.4% on the day Tuesday. Investors can snag LKQ even cheaper than Webster IV did, with the stock changing hands as low as $34.69 in trading on Tuesday which is 1.9% below Webster IV's purchase price.
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