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 Thursday, Zweig Total Return Fund New (NYSE:ZTR)'s SVP & Portfolio Manager, Carlton Neel, made a $64,700 buy of ZTR, purchasing 5,000 shares at a cost of $12.94 each. Zweig Total Return Fund New is trading up about 0.1% on the day Friday. This purchase marks the first one filed by Neel in the past year.
And at Lexmark International, Inc. (LXK), there was insider buying on Tuesday, by Director Stephen R. Hardis who purchased 900 shares for a cost of $26.25 each, for a trade totaling $23,630. Before this latest buy, Hardis bought LXK on 3 other occasions during the past year, for a total cost of $70,989 at an average of $24.10 per share. Lexmark International, Inc. is trading off about 0.9% on the day Friday.
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