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 (NYSE: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. (NASDAQ: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.
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