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, NiSource's (NYSE:NI) EVP & Chief Legal Officer, Carrie J. Hightman, made a $360,361 buy of NI, purchasing 12,299 shares at a cost of $29.30 each. NiSource Inc. is trading up about 0.7% on the day Tuesday.
And at United Insurance Holdings Corp (NASDAQ:UIHC), there was insider buying on Thursday, by Director William H. Hood III who purchased 25,000 shares for a cost of $7.55 each, for a total investment of $188,725. Before this latest buy, Hood bought UIHC at 2 other times during the past twelve months, for a total cost of $1.53M at an average of $5.22 per share. United Insurance Holdings Corp is trading down about 1.2% on the day Tuesday.
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