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 Third Point Reinsurance (NYSE:TPRE), a filing with the SEC revealed that on Thursday, Director Neil McConachie bought 25,500 shares of TPRE, for a cost of $17.17 each, for a total investment of $437,835. So far McConachie is in the green, up about 4.0% on their buy based on today's trading high of $17.85.
And at A.M. Castle (NYSE:CAS), there was insider buying on Friday, by CEO Scott J. Dolan who purchased 14,900 shares at a cost of $13.73 each, for a trade totaling $204,577. Before this latest buy, Dolan purchased CAS on 4 other occasions during the past twelve months, for a total investment of $368,414 at an average of $16.05 per share. A.M. Castle is trading up about 3.7% on the day Monday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.