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 Thursday, Tower International Inc (NYSE:TOWR)'s CEO, Mark Malcolm, made a $534,445 buy of TOWR, purchasing 74,451 shares at a cost of $7.18 each. Malcolm was up about 3.8% on the buy at the high point of today's trading session, with TOWR trading as high as $7.45 at last check today. Tower International Inc is trading up about 3.6% on the day Friday. Before this latest buy, Malcolm made one other purchase in the past twelve months, buying $132,614 shares at a cost of $12.27 each.
And at Thomas Properties Group Inc (NYSE:TPGI), there was insider buying on Tuesday, by CEO James A. Thomas who purchased 87,500 shares at a cost of $5.45 each, for a trade totaling $476,539. Before this latest buy, Thomas made one other purchase in the past year, buying $105,332 shares for a cost of $3.32 each. Thomas Properties Group Inc is trading up about 1.6% on the day Friday. So far Thomas is in the green, up about 4.8% on their purchase based on today's trading high of $5.71.
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