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 Nexpoint Credit Strategies Fund (NHF), a filing with the SEC revealed that on Monday, James D. Dondero purchased 171,433 shares of NHF, for a cost of $6.46 each, for a total investment of $1.11M. So far Dondero is in the green, up about 3.4% on their buy based on today's trading high of $6.68. Nexpoint Credit Strategies Fund is trading up about 0.8% on the day Wednesday. Before this latest buy, Dondero bought NHF on 3 other occasions during the past twelve months, for a total cost of $4.04M at an average of $6.68 per share.
And on Friday, Director Timothy R. G. Sear bought $216,350 worth of GTx Inc (GTXI), buying 50,000 shares at a cost of $4.33 a piece. This buy marks the first one filed by Sear in the past year. GTx Inc is trading down about 0.4% on the day Wednesday. So far Sear is in the green, up about 7.5% on their purchase based on today's trading high of $4.65.
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