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, MVC Capital (NYSE:MVC)'s Director, Robert C. Knapp, made a $512,402 purchase of MVC, buying 36,817 shares at a cost of $13.92 a piece. MVC Capital is trading up about 0.9% on the day Tuesday. Before this latest buy, Knapp purchased MVC on 5 other occasions during the past year, for a total cost of $1.14M at an average of $13.99 per share.
And at Digital Realty Trust (NYSE:DLR), there was insider buying on Friday, by Director Dennis E. Singleton who bought 5,000 shares for a cost of $49.97 each, for a total investment of $249,858. Before this latest buy, Singleton made one other purchase in the past twelve months, buying $274,693 shares for a cost of $47.49 a piece. Digital Realty Trust is trading up about 1.1% on the day Tuesday. So far Singleton is in the green, up about 3.2% on their buy based on today's trading high of $51.59.
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