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 AOL (AOL), a filing with the SEC revealed that on Thursday, CEO Timothy M. Armstrong purchased 55,600 shares of AOL, at a cost of $36.08 each, for a total investment of $2.01M. So far Armstrong is in the green, up about 5.3% on their purchase based on today's trading high of $38.00. AOL is trading up about 3.9% on the day Friday.
And at Tyco International (TYC), there was insider buying on Wednesday, by Director Michael E. Daniels who bought 48,816 shares for a cost of $41.00 each, for a trade totaling $2.00M. Tyco International is trading up about 0.1% on the day Friday. So far Daniels is in the green, up about 0.9% on their purchase based on today's trading high of $41.39.
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