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 Citigroup (NYSE:C), a filing with the SEC revealed that on Tuesday, Director William S. Thompson bought 21,460 shares of C, for a cost of $46.60 each, for a total investment of $1.00M. Thompson was up about 1.5% on the buy at the high point of today's trading session, with C trading as high as $47.32 in trading on Friday. Citigroup is trading up about 0.3% on the day Friday.
And also on Tuesday, Director Michael Appling Jr. purchased $497,091 worth of Main Street Capital Corporation (NYSE:MAIN), purchasing 16,500 shares at a cost of $30.13 each. Main Street Capital Corporation is trading up about 1.6% on the day Friday. Appling Jr. was up about 2.9% on the purchase at the high point of today's trading session, with MAIN trading as high as $31.00 in trading on Friday.
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