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 Huntington Bancshares, Inc (NASDAQ:HBAN), a filing with the SEC revealed that on Monday, Director Richard W. Neu purchased 20,000 shares of HBAN, for a cost of $6.26 each, for a total investment of $125,200. Huntington Bancshares, Inc is trading off about 0.2% on the day Tuesday. This purchase marks the first one filed by Neu in the past twelve months.
And also on Monday, CEO Michael A. McManus Jr. bought $82,000 worth of Misonix, Inc. (NASDAQ:MSON), buying 20,000 shares at a cost of $4.10 each. Before this latest buy, McManus Jr. made one other buy in the past year, purchasing $26,880 shares at a cost of $1.92 each. Misonix, Inc. is trading up about 2.3% on the day Tuesday. So far McManus Jr. is in the green, up about 34.1% on their buy based on today's trading high of $5.50.
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