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 Targa Resources Partners LP (NYSE:NGLS), a filing with the SEC revealed that on Wednesday, EVP, Gen. Counsel & Secretary Paul W. Chung bought 7,500 shares of NGLS, at a cost of $41.14 each, for a total investment of $308,550. Targa Resources Partners LP is trading up about 1.1% on the day Friday.
And at LogMeIn Inc (NASDAQ:LOGM), there was insider buying on Thursday, by CFO and Treasurer James F. Kelliher who purchased 8,000 shares for a cost of $16.91 each, for a total investment of $135,320. This buy marks the first one filed by Kelliher in the past year. LogMeIn Inc is trading up about 0.5% on the day Friday. So far Kelliher is in the green, up about 1.9% on their buy based on today's trading high of $17.24.
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