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 Monday, MidSouth Bancorp, Inc. (NYSE:MSL)'s Director, R. Glenn Pumpelly, made a $78,950 purchase of MSL, buying 5,000 shares at a cost of $15.79 each. So far Pumpelly is in the green, up about 0.3% on their purchase based on today's trading high of $15.83. MidSouth Bancorp, Inc. is trading off about 0.3% on the day Friday. Before this latest buy, Pumpelly purchased MSL at 2 other times during the past twelve months, for a total investment of $170,670 at an average of $15.52 per share.
And at First Bancorp (NASDAQ:FBNC), there was insider buying on Wednesday, by Director James C. Crawford III who purchased 5,000 shares for a cost of $12.49 each, for a trade totaling $62,438. This buy marks the first one filed by Crawford III in the past year. First Bancorp is trading up about 0.2% on the day Friday. Crawford III was up about 5.1% on the purchase at the high point of today's trading session, with FBNC trading as high as $13.12 at last check today.
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