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 AK Steel Holding Corp. (NYSE:AKS), a filing with the SEC revealed that on Tuesday, CEO James L. Wainscott bought 100,000 shares of AKS, for a cost of $3.85 each, for a total investment of $384,500. AK Steel Holding Corp. is trading up about 2.1% on the day Wednesday.
And at Jack in the Box, Inc. (NASDAQ:JACK), there was insider buying on Monday, by Director James M. Myers who bought 7,500 shares at a cost of $27.25 each, for a total investment of $204,362. Jack in the Box, Inc. is trading up about 0.1% on the day Wednesday.
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