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, Infinera Corp (NASDAQ:INFN)'s CEO, Thomas J. Fallon, made a $223,576 buy of INFN, purchasing 50,000 shares at a cost of $4.47 a piece. Fallon was up about 16.3% on the purchase at the high point of today's trading session, with INFN trading as high as $5.20 in trading on Monday. Infinera Corp is trading up about 4.7% on the day Monday.
And also on Wednesday, Chairman of the Board James W. Hirschmann III purchased $98,250 worth of Western Asset Mortgage Capital Corp (NYSE:WMC), purchasing 5,000 shares at a cost of $19.65 each. Before this latest buy, Hirschmann III purchased WMC on 5 other occasions during the past twelve months, for a total cost of $266,489 at an average of $19.72 per share. Western Asset Mortgage Capital Corp is trading down about 0.4% on the day Monday. So far Hirschmann III is in the green, up about 1.7% on their buy based on today's trading high of $19.99.
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