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. (NYSE: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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