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 Friday, Newcastle Investment Corp (NYSE:NCT)'s Secretary, Randal A. Nardone, made a $999,982 purchase of NCT, buying 106,950 shares at a cost of $9.35 each. So far Nardone is in the green, up about 5.7% on their purchase based on today's trading high of $9.88. Newcastle Investment Corp is trading down about 0.3% on the day Monday. Before this latest buy, Nardone made one other purchase in the past twelve months, buying $1.01M shares for a cost of $6.70 a piece.
And at Thomas Properties Group Inc (NYSE:TPGI), there was insider buying on Thursday, by CEO James A. Thomas who purchased 43,400 shares at a cost of $5.28 each, for a trade totaling $228,991. Before this latest buy, Thomas purchased TPGI on 7 other occasions during the past year, for a total cost of $1.4M at an average of $5.51 per share. Thomas Properties Group Inc is trading up about 3.6% on the day Monday. Thomas was up about 3.7% on the buy at the high point of today's trading session, with TPGI trading as high as $5.47 at last check today.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.