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.
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