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, Ares Multi Strategy Credit Fund (NYSE:ARMF)'s Director, David A. Sachs, made a $55,260 purchase of ARMF, buying 2,500 shares at a cost of $22.10 each. Investors can buy ARMF even cheaper than Sachs did, with shares trading as low as $21.75 at last check today -- that's 1.6% below Sachs's purchase price. Ares Multi Strategy Credit Fund is trading up about 0.2% on the day Wednesday. Before this latest buy, Sachs purchased ARMF at 2 other times during the past year, for a total cost of $390,700 at an average of $23.54 per share.
And at NeoGenomics (NASDAQ:NEO), there was insider buying on Friday, by Chief Medical Officer Maher Albitar who bought 14,492 shares for a cost of $3.51 each, for a total investment of $50,847. NeoGenomics is trading up about 4.5% on the day Wednesday. Albitar was up about 8.3% on the buy at the high point of today's trading session, with NEO trading as high as $3.80 in trading on Wednesday.
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