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 Meadowbrook Insurance Group Inc (NYSE:MIG), a filing with the SEC revealed that on Tuesday, SVP - General Counsel Michael G. Costello bought 7,115 shares of MIG, for a cost of $6.87 each, for a total investment of $48,880. Costello was up about 5.8% on the buy at the high point of today's trading session, with MIG trading as high as $7.27 in trading on Thursday. Meadowbrook Insurance Group Inc is trading up about 4.6% on the day Thursday.
And at FelCor Lodging Trust, Inc. (NYSE:FCH), there was insider buying on Thursday, by Director Glenn A. Carlin who bought 10,000 shares for a cost of $4.84 each, for a total investment of $48,392. Before this latest buy, Carlin made one other purchase in the past year, buying $46,830 shares for a cost of $4.46 each. FelCor Lodging Trust, Inc. is trading off about 1.2% on the day Thursday.
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