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 Thursday, Nexpoint Credit Strategies Fund (NHF)'s , James D. Dondero, made a $1.18M buy of NHF, purchasing 171,532 shares at a cost of $6.90 each. So far Dondero is in the green, up about 2.4% on their purchase based on today's trading high of $7.07. Nexpoint Credit Strategies Fund is trading off about 0.7% on the day Monday. Before this latest buy, Dondero bought NHF on 4 other occasions during the past twelve months, for a total cost of $5.15M at an average of $6.63 per share.
And also on Thursday, Director William G. Buck bought $24,480 worth of Cardinal Financial Corp (CFNL), buying 1,500 shares at a cost of $16.32 a piece. This purchase marks the first one filed by Buck in the past year. Cardinal Financial Corp is trading up about 1.7% on the day Monday.
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