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 BCB Bancorp (NASDAQ:BCBP), a filing with the SEC revealed that on Friday, Chairman of the Board Mark D. Hogan bought 4,619 shares of BCBP, for a cost of $10.48 each, for a total investment of $48,420. BCB Bancorp Inc is trading off about 0.1% on the day Monday. Before this latest buy, Hogan purchased BCBP at 3 other times during the past twelve months, for a total cost of $19,232 at an average of $10.22 per share.
And also on Friday, Director Carol L. Colman purchased $41,332 worth of Western Asset Global High Income Fund (NYSE:EHI), purchasing 3,000 shares at a cost of $13.78 a piece. This purchase marks the first one filed by Colman in the past year. Western Asset Global High Income Fund is trading off about 0.1% on the day Monday.
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