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 Blackrock Incorporated (BLK), a filing with the SEC revealed that on Friday, Director James Grosfeld purchased 99,998 shares of BLK, at a cost of $189.47 each, for a total investment of $18.95M. Investors can grab BLK even cheaper than Grosfeld did, with shares changing hands as low as $185.71 in trading on Tuesday which is 2.0% below Grosfeld's purchase price. Blackrock Incorporated is trading down about 1.3% on the day Tuesday. Before this latest buy, Grosfeld bought BLK at 2 other times during the past twelve months, for a total cost of $46.13M at an average of $184.53 per share.
And at Cypress Semiconductor Corp. (CY), there was insider buying on Friday, by CFO Brad W. Buss who purchased 20,000 shares for a cost of $9.69 each, for a trade totaling $193,800. Cypress Semiconductor Corp. is trading off about 0.5% on the day Tuesday. Buss was up about 2.7% on the purchase at the high point of today's trading session, with CY trading as high as $9.95 at last check today.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.