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, AAR Corp (NYSE:AIR)'s Director, Marc Jay Walfish, made a $69,000 purchase of AIR, buying 5,000 shares at a cost of $13.80 each. So far Walfish is in the green, up about 5.4% on their buy based on today's trading high of $14.54. AAR Corp is trading down about 0.8% on the day Monday.
And at TCF Financial Corp. (NYSE:TCB), there was insider buying on Wednesday, by CFO Michael Scott Jones who bought 6,391 shares for a cost of $10.03 each, for a total investment of $64,129. TCF Financial Corp. is trading down about 2.1% on the day Monday. Jones was up about 4.2% on the buy at the high point of today's trading session, with TCB trading as high as $10.46 at last check today.
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