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 Wednesday, Huntington Bancshares, Inc (NASDAQ:HBAN)'s President, CEO & Chairman, Stephen D. Steinour, made a $281,587 purchase of HBAN, buying 40,000 shares at a cost of $7.04 a piece. Huntington Bancshares, Inc is trading trading flat on the day Thursday. Before this latest buy, Steinour made one other buy in the past year, purchasing $117,689 shares for a cost of $6.48 a piece.
And at Clearbridge Energy MLP Total Return (NYSE:CTR), there was insider buying on Tuesday, by Director Daniel P. Cronin who bought 1,500 shares for a cost of $20.61 each, for a trade totaling $30,915. Before this latest buy, Cronin made one other purchase in the past twelve months, buying $19,118 shares at a cost of $19.12 each. Clearbridge Energy MLP Total Return is trading up about 0.6% on the day Thursday. So far Cronin is in the green, up about 0.8% on their buy based on today's trading high of $20.78.
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