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 PIMCO Dynamic Credit Income Fund (NYSE:PCI), a filing with the SEC revealed that on Thursday, William H. Gross bought 100,000 shares of PCI, for a cost of $23.05 each, for a total investment of $2.31M. Investors have the opportunity to bag PCI at a price even lower than Gross did, with shares trading as low as $22.74 at last check today which is 1.4% under Gross's purchase price. PIMCO Dynamic Credit Income Fund is trading down about 0.3% on the day Monday. Before this latest buy, Gross bought PCI on 10 other occasions during the past twelve months, for a total investment of $14.17M at an average of $22.47 per share.
And at Conns (NASDAQ:CONN), there was insider buying on Thursday, by Director Kelly M. Malson who purchased 4,500 shares for a cost of $39.58 each, for a trade totaling $178,110. This purchase marks the first one filed by Malson in the past twelve months. Conns is trading up about 0.5% on the day Monday.
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