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, Aegion Corp (NASDAQ:AEGN)'s Director, Phillip D. Wright, made a $160,068 buy of AEGN, purchasing 10,000 shares at a cost of $16.01 each. Wright was up about 5.8% on the purchase at the high point of today's trading session, with AEGN trading as high as $16.94 in trading on Wednesday. Aegion Corp is trading up about 0.3% on the day Wednesday. This purchase marks the first one filed by Wright in the past twelve months.
And also on Friday, Director C. Preston Butcher bought $100,885 worth of Northstar Realty Finance Corp (NYSE:NRF), buying 20,000 shares at a cost of $5.04 a piece. Before this latest buy, Butcher bought NRF on 2 other occasions during the past year, for a total cost of $590,595 at an average of $3.94 per share. Northstar Realty Finance Corp is trading down about 0.2% on the day Wednesday. Butcher was up about 2.6% on the buy at the high point of today's trading session, with NRF trading as high as $5.17 at last check today.
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