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 Wednesday, AGCO Corp. (NYSE:AGCO)'s Director, Mallika Srinivasan, made a $5.48M purchase of AGCO, buying 119,487 shares at a cost of $45.86 a piece. So far Srinivasan is in the green, up about 2.9% on their purchase based on today's trading high of $47.18. AGCO Corp. is trading up about 1.8% on the day Thursday. Before this latest buy, Srinivasan purchased AGCO at 6 other times during the past year, for a total investment of $14.98M at an average of $45.05 per share.
And on Monday, Director William R. Hutchinson bought $21,889 worth of Legg Mason BW Global Income Oppo (NYSE:BWG), buying 1,100 shares at a cost of $19.90 each. Legg Mason BW Global Income Oppo is trading up about 0.7% on the day Thursday. Hutchinson was up about 1.1% on the purchase at the high point of today's trading session, with BWG trading as high as $20.11 at last check today.
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