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 Thursday, AGCO Corp. (AGCO)'s Director, Mallika Srinivasan, made a $17.95M purchase of AGCO, buying 347,959 shares at a cost of $51.60 a piece. Srinivasan was up about 2.6% on the purchase at the high point of today's trading session, with AGCO trading as high as $52.92 at last check today. AGCO is trading up about 0.4% on the day Monday. Before this latest buy, Srinivasan bought AGCO at 29 other times during the past year, for a total investment of $221.69M at an average of $53.06 per share.
And on Friday, Director Stephen D. Steinour purchased $563,480 worth of L Brands (LB), purchasing 10,000 shares at a cost of $56.35 each. L Brands is trading off about 1.2% on the day Monday. Bargain hunters are able to snag LB at a price even lower than Steinour did, with shares changing hands as low as $55.58 at last check today which is 1.4% below Steinour's purchase price.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.