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 3M Co (NYSE:MMM), a filing with the SEC revealed that on Thursday, Director W. James Farrell bought 6,625 shares of MMM, at a cost of $114.41 each, for a total investment of $757,940. 3M Co is trading up about 0.5% on the day Monday.
And at Halcon Resources Corp (NYSE:HK), there was insider buying on Wednesday, by Director David S. Hunt who purchased 50,000 shares at a cost of $4.73 each, for a trade totaling $236,657. Before this latest buy, Hunt made one other buy in the past year, purchasing $1.02M shares for a cost of $5.10 a piece. Halcon Resources Corp is trading trading flat on the day Monday. Hunt was up about 6.1% on the purchase at the high point of today's trading session, with HK trading as high as $5.02 at last check today.
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