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 Wednesday, Luminex (NASDAQ:LMNX)'s Director, G. Walter Loewenbaum II, made a $415,251 purchase of LMNX, buying 20,000 shares at a cost of $20.76 each. Luminex is trading up about 2.2% on the day Thursday. Before this latest buy, Loewenbaum bought LMNX at 11 other times during the past year, for a total cost of $4.32M at an average of $18.07 per share.
And at Ares Commercial Real Estate (NYSE:ACRE), there was insider buying on Wednesday, by Co-Chief Executive Officer Todd Schuster who bought 15,000 shares at a cost of $12.29 each, for a trade totaling $184,417. Before this latest buy, Schuster made one other buy in the past year, purchasing $405,000 shares at a cost of $13.50 a piece. Ares Commercial Real Estate is trading up about 3.8% on the day Thursday.
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