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 NASB Financial (NASDAQ:NASB), a filing with the SEC revealed that on Thursday, Director Linda S. Hancock bought 65,000 shares of NASB, at a cost of $23.10 each, for a total investment of $1.50M. NASB Financial is trading up about 5.9% on the day Friday. This buy marks the first one filed by Hancock in the past twelve months.
And on Monday, Benjamin Caron purchased $76,161 worth of Virtus Global Multi Sector Income (NYSE:VGI), purchasing 4,303 shares at a cost of $17.70 a piece. Before this latest buy, Caron made one other purchase in the past year, buying $15,127 shares at a cost of $16.71 each. Virtus Global Multi Sector Income is trading trading flat on the day Friday. Caron was up about 0.8% on the purchase at the high point of today's trading session, with VGI trading as high as $17.85 in trading on Friday.
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