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 Clearbridge Energy MLP Opportunity (NYSE:EMO), a filing with the SEC revealed that on Wednesday, Harry D. Cohen purchased 5,000 shares of EMO, at a cost of $21.39 each, for a total investment of $106,975. So far Cohen is in the green, up about 2.2% on their purchase based on today's trading high of $21.87. Clearbridge Energy MLP Opportuni is trading down about 0.2% on the day Monday. Before this latest buy, Cohen made one other purchase in the past year, buying $81,120 shares at a cost of $20.28 a piece.
And at Prudential Short Duration High Yield (NYSE:ISD), there was insider buying on Wednesday, by Paul Appleby who purchased 2,119 shares for a cost of $19.01 each, for a trade totaling $40,282. This purchase marks the first one filed by Appleby in the past year. Prudential Short Duration High Y is trading up about 0.3% on the day Monday. So far Appleby is in the green, up about 3.4% on their purchase based on today's trading high of $19.66.
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