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 Tuesday, ADVENT/CLAYMORE Enhanced Growth (NYSE:LCM)'s , Doug Teresko, made a $58,705 buy of LCM, purchasing 5,900 shares at a cost of $9.95 each. ADVENT/CLAYMORE Enhanced Growth is trading up about 0.2% on the day Friday.
And on Wednesday, Director Patrick D. Hanley bought $51,234 worth of NewMarket Corp (NYSE:NEU), buying 200 shares at a cost of $256.17 a piece. This buy marks the first one filed by Hanley in the past twelve months. NewMarket Corp is trading up about 1.1% on the day Friday.
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