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 Friday, Hologic (NASDAQ:HOLX)'s CEO, Stephen P. Macmillan, made a $4.13M purchase of HOLX, buying 198,900 shares at a cost of $20.78 a piece. So far Macmillan is in the green, up about 4.8% on their purchase based on today's trading high of $21.78. Hologic is trading up about 1.3% on the day Tuesday. This buy marks the first one filed by Macmillan in the past twelve months.
And at PIMCO Dynamic Income Fund (NYSE:PDI), there was insider buying on Friday, by William H. Gross who purchased 100,000 shares at a cost of $30.67 each, for a total investment of $3.07M. Before this latest buy, Gross made one other buy in the past twelve months, purchasing $2.93M shares for a cost of $29.31 each. PIMCO Dynamic Income Fund is trading up about 0.3% on the day Tuesday.
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