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 Tuesday, AGCO Corp. (NYSE:AGCO)'s Director, Mallika Srinivasan, made a $2.70M buy of AGCO, purchasing 61,079 shares at a cost of $44.24 each. AGCO Corp. is trading up about 0.5% on the day Wednesday. This purchase marks the first one filed by Srinivasan in the past year.
And at BlackRock Build America Bond Trust (NYSE:BBN), there was insider buying on Tuesday, by Director Jerrold B. Harris who bought 12,200 shares for a cost of $23.54 each, for a trade totaling $287,218. Before this latest buy, Harris purchased BBN on 3 other occasions during the past year, for a total cost of $432,388 at an average of $22.17 per share. BlackRock Build America Bond Trust is trading trading flat on the day Wednesday. So far Harris is down about 0.7% on the purchase, with shares trading as low as $23.38 in trading on Wednesday.
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