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 American Campus Communities (NYSE:ACC), a filing with the SEC revealed that on Friday, Director G. Steven Dawson bought 5,000 shares of ACC, for a cost of $34.00 each, for a total investment of $169,996. So far Dawson is in the green, up about 2.6% on their buy based on today's trading high of $34.88. Before this latest buy, Dawson purchased ACC at 3 other times during the past year, for a total cost of $442,047 at an average of $43.27 per share.
And at Mid-Con Energy Partners (NASDAQ:MCEP), there was insider buying on Friday, by Director Cameron O. Smith who purchased 7,232 shares for a cost of $23.11 each, for a trade totaling $167,155. Smith was up about 2.7% on the buy at the high point of today's trading session, with MCEP trading as high as $23.74 in trading on Tuesday.
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