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 Wednesday, Access Midstream Partners (NYSE:ACMP)'s CEO, J. Michael Stice, made a $301,024 buy of ACMP, purchasing 5,900 shares at a cost of $51.02 a piece. Access Midstream Partners is trading off about 0.1% on the day Thursday. Before this latest buy, Stice bought ACMP at 2 other times during the past year, for a total cost of $604,086 at an average of $38.72 per share.
And on Tuesday, Chief Executive Officer David Gladstone purchased $181,102 worth of Gladstone Investment Corp (NASDAQ:GAIN), purchasing 24,000 shares at a cost of $7.55 a piece. Before this latest buy, Gladstone made one other buy in the past twelve months, purchasing $147,598 shares at a cost of $7.38 a piece. Gladstone Investment Corp is trading up about 1.5% on the day Thursday.
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