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. (NYSE: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 (NYSE: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.
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