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 Monday, Oiltanking Partners LP (NYSE:OILT)'s CEO, Kenneth F. Owen, made a $116,722 purchase of OILT, buying 1,500 shares at a cost of $77.81 each. Bargain hunters can snag OILT at a price even lower than Owen did, with shares changing hands as low as $75.75 in trading on Tuesday -- that's 2.7% below Owen's purchase price. Oiltanking Partners LP is trading up about 0.9% on the day Tuesday. Before this latest buy, Owen made one other buy in the past twelve months, purchasing $111,513 shares at a cost of $74.34 each.
And at Staples (NASDAQ:SPLS), there was insider buying on Thursday, by CEO Ronald Sargent who bought 8,500 shares at a cost of $11.82 each, for a total investment of $100,455. This buy marks the first one filed by Sargent in the past year. Staples is trading up about 1.6% on the day Tuesday. Sargent was up about 4.3% on the purchase at the high point of today's trading session, with SPLS trading as high as $12.33 in trading on Tuesday.
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