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, The Cushing Royalty & Income Fund (NYSE:SRF)'s , Jerry V. Swank, made a $93,546 buy of SRF, purchasing 5,000 shares at a cost of $18.71 each. Swank was up about 4.8% on the purchase at the high point of today's trading session, with SRF trading as high as $19.60 in trading on Wednesday. The Cushing Royalty & Income Fund is trading up about 3.1% on the day Wednesday.
And on Monday, Director Charles E. Niemier bought $15,448 worth of Lakeland Financial Corp. (NASDAQ:LKFN), buying 596 shares at a cost of $25.92 a piece. Before this latest buy, Niemier purchased LKFN at 4 other times during the past year, for a total investment of $59,179 at an average of $26.28 per share. Lakeland Financial Corp. is trading up about 2.6% on the day Wednesday.
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