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 a noteworthy recent insider buy.
On Friday, Senior VP Douglas S. Menges bought $298,825 worth of Mercury General (NYSE:MCY), buying 6,000 shares at a cost of $49.80 a piece. Before this latest buy, Menges made one other purchase in the past year, buying $233,390 shares at a cost of $46.68 a piece. Mercury General is trading off about 0.5% on the day Tuesday.
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