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 Pinnacle Entertainment Inc (NASDAQ:PNK), a filing with the SEC revealed that on Thursday, CEO Anthony Michael Sanfilippo bought 25,100 shares of PNK, for a cost of $9.64 each, for a total investment of $242,044. So far Sanfilippo is in the green, up about 14.3% on their purchase based on today's trading high of $11.02. Pinnacle Entertainment Inc is trading up about 4.2% on the day Tuesday. Before this latest buy, Sanfilippo bought PNK on 9 other occasions during the past twelve months, for a total investment of $2.98M at an average of $10.40 per share.
And at Texas Industries Inc. (TXI), there was insider buying on Thursday, by Director Thomas L. Ryan who purchased 2,000 shares at a cost of $41.29 each, for a trade totaling $82,580. Texas Industries Inc. is trading off about 3.5% on the day Tuesday. Ryan was up about 6.4% on the buy at the high point of today's trading session, with TXI trading as high as $43.93 at last check today.
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