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 JMP Group (NYSE:JMP), a filing with the SEC revealed that on Wednesday, CEO Joseph A. Jolson bought 209,808 shares of JMP, at a cost of $6.61 each, for a total investment of $1.39M. So far Jolson is in the green, up about 8.1% on their purchase based on today's trading high of $7.15.
And at Mid-America Apartment Communities (NYSE:MAA), there was insider buying on Wednesday, by Director Harold W. Ripps who purchased 10,000 shares at a cost of $60.53 each, for a trade totaling $605,333. Mid-America Apartment Communities is trading off about 0.4% on the day Thursday.
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