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 Friday, Canterbury Park Holding Corp. (NASDAQ:CPHC)'s Director, John L. Morgan, made a $38,129 buy of CPHC, purchasing 3,511 shares at a cost of $10.86 a piece. So far Morgan is in the green, up about 2.6% on their buy based on today's trading high of $11.14. Canterbury Park Holding Corp. is trading down about 0.8% on the day Tuesday.
And on Monday, Director Thomas W. Pauken bought $22,100 worth of TOR Minerals International Inc (NASDAQ:TORM), buying 2,000 shares at a cost of $11.05 each. Before this latest buy, Pauken made one other buy in the past twelve months, purchasing $21,300 shares for a cost of $10.65 a piece. TOR Minerals International Inc is trading up about 1.1% on the day Tuesday. Pauken was up about 12.1% on the buy at the high point of today's trading session, with TORM trading as high as $12.39 in trading on Tuesday.
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