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 American Eagle Outfitters, Inc. (AEO), a filing with the SEC revealed that on Friday, Executive Chairman Jay L. Schottenstein bought 500,000 shares of AEO, for a cost of $12.84 each, for a total investment of $6.42M. So far Schottenstein is in the green, up about 5.1% on their buy based on today's trading high of $13.49.
And on Monday, Director Thomas Turner purchased $380,913 worth of BancorpSouth (BXS), purchasing 15,592 shares at a cost of $24.43 each. Turner was up about 1.8% on the buy at the high point of today's trading session, with BXS trading as high as $24.88 in trading on Tuesday.
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