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, Silver Bay Realty Trust Corp (NYSE:SBY)'s CEO, David N. Miller, made a $194,740 buy of SBY, purchasing 10,000 shares at a cost of $19.47 each. Silver Bay Realty Trust Corp is trading up about 0.5% on the day Thursday. Before this latest buy, Miller made one other buy in the past year, purchasing $231,250 shares at a cost of $18.50 a piece.
And at Tri Continental Corporation (NYSE:TY), there was insider buying on Monday, by Todd White who purchased 9,000 shares for a cost of $17.16 each, for a total investment of $154,438. Tri Continental Corporation is trading up about 0.2% on the day Thursday. White was up about 1.7% on the purchase at the high point of today's trading session, with TY trading as high as $17.45 in trading on Thursday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.