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.
Last Tuesday, Annaly Capital Management (NYSE:NLY)'s Co-CIO, Rose-marie Lyght, made a $206,101 purchase of NLY, buying 20,406 shares at a cost of $10.10 each. On Monday, shares of Annaly Capital Management were loewr by 1.7% so far.
Also reported last week was CFO Geoffrey M. Parker purchase of $128,475 worth of Anacor Pharmaceuticals (NASDAQ:ANAC), buying 10,000 shares at a cost of $12.85 a piece. Before this latest buy, Parker purchased ANAC at 4 other times during the past twelve months, for a total cost of $775,476 at an average of $7.53 per share.
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