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 PBF Energy (NYSE:PBF), a filing with the SEC revealed that on Monday, Executive Chairman Thomas D. O'Malley bought 32,864 shares of PBF, at a cost of $22.27 each, for a total investment of $731,846. PBF Energy is trading up about 1.6% on the day Monday. Before this latest buy, O'Malley bought PBF at 2 other times during the past twelve months, for a total investment of $3.14M at an average of $26.86 per share.
And at Education Realty Trust (NYSE:EDR), there was insider buying on Friday, by CEO Randy L. Churchey who bought 20,000 shares for a cost of $8.99 each, for a total investment of $179,800. Education Realty Trust is trading up about 0.2% on the day Monday. Churchey was up about 3.8% on the purchase at the high point of today's trading session, with EDR trading as high as $9.33 at last check today.
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