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 PIMCO Dynamic Income Fund (PDI), a filing with the SEC revealed that on Tuesday, William H. Gross bought 34,579 shares of PDI, at a cost of $32.90 each, for a total investment of $1.14M. Gross was up about 1.0% on the buy at the high point of today's trading session, with PDI trading as high as $33.24 at last check today. PIMCO Dynamic Income Fund is trading up about 0.5% on the day Thursday. Before this latest buy, Gross bought PDI at 18 other times during the past twelve months, for a total investment of $31.33M at an average of $31.57 per share.
And at Alexander & Baldwin (ALEX), there was insider buying on Wednesday, by Director David C. Hulihee who bought 13,214 shares at a cost of $37.05 each, for a total investment of $489,546. Before this latest buy, Hulihee made one other buy in the past year, purchasing $44,839 shares for a cost of $37.18 a piece. Alexander & Baldwin is trading up about 2.6% on the day Thursday.
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