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, Hillenbrand Inc (NYSE:HI)'s Director, F. Joseph Loughrey, made a $294,162 purchase of HI, buying 12,000 shares at a cost of $24.51 a piece. Loughrey was up about 1.9% on the buy at the high point of today's trading session, with HI trading as high as $24.97 at last check today. Hillenbrand Inc is trading up about 2.3% on the day Wednesday. This buy marks the first one filed by Loughrey in the past year.
And also on Tuesday, Director Larry C. Glasscock purchased $239,985 worth of Simon Property Group, Inc. (NYSE:SPG), purchasing 1,500 shares at a cost of $159.99 each. Before this latest buy, Glasscock bought SPG on 2 other occasions during the past year, for a total investment of $209,612 at an average of $155.61 per share. Simon Property Group, Inc. is trading off about 0.1% on the day Wednesday.
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