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.
At Mead Johnson Nutrition (NYSE:MJN), a filing with the SEC revealed that on Thursday, Director James M. Cornelius purchased 10,000 shares of MJN, at a cost of $75.99 each, for a total investment of $759,900. Mead Johnson Nutrition is trading down about 0.4% on the day Friday. Before this latest buy, Cornelius made one other buy in the past twelve months, purchasing $617,515 shares at a cost of $61.75 each.
And at Howard Hughes (NYSE:HHC), there was insider buying on Tuesday, by Director Mary Ann Tighe who bought 4,626 shares at a cost of $107.43 each, for a total investment of $496,949. Before this latest buy, Tighe made one other buy in the past twelve months, purchasing $500,456 shares for a cost of $105.14 a piece. Howard Hughes is trading up about 2.1% on the day Friday.
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