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 Thursday, Mannatech (NASDAQ:MTEX)'s Director, Robert Toth, made a $114,973 purchase of MTEX, buying 5,000 shares at a cost of $22.99 each. Mannatech Inc is trading down about 1.6% on the day Monday. Before this latest buy, Toth purchased MTEX on 4 other occasions during the past year, for a total investment of $226,649 at an average of $11.33 per share.
And at Guggenheim Credit Allocation Fund (NYSE:GGM), there was insider buying on Friday, by Director Randall C. Barnes who bought 3,100 shares for a cost of $23.56 each, for a trade totaling $73,035. Before this latest buy, Barnes purchased GGM on 4 other occasions during the past twelve months, for a total cost of $78,280 at an average of $23.51 per share. Guggenheim Credit Allocation Fund is trading up about 0.8% on the day Monday.
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