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, Adams Express Company (NYSE:ADX)'s Director, Frederic A. Escherich, made a $15,540 purchase of ADX, buying 1,200 shares at a cost of $12.95 each. Escherich was up about 0.8% on the buy at the high point of today's trading session, with ADX trading as high as $13.06 in trading on Wednesday. Adams Express Company is trading up about 0.2% on the day Wednesday.
And also on Monday, Michael Harlan Brown bought $15,050 worth of Babson Capital Corporate Investors Fund (NYSE:MCI), buying 1,000 shares at a cost of $15.05 a piece. Before this latest buy, Brown purchased MCI on 2 other occasions during the past year, for a total cost of $16,949 at an average of $15.87 per share. Babson Capital Corporate Investors Fund is trading up about 0.3% on the day Wednesday. Brown was up about 0.7% on the purchase at the high point of today's trading session, with MCI trading as high as $15.15 in trading on Wednesday.
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