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 Thursday, First Financial Holdings (SCBT)'s Director, Robert H. Demere Jr., made a $178,500 purchase of SCBT, buying 3,000 shares at a cost of $59.50 each. So far Demere Jr. is in the green, up about 1.4% on their buy based on today's trading high of $60.32. First Financial Holdings is trading up about 0.9% on the day Friday.
And at Internap Network Services (NASDAQ:INAP), there was insider buying on Monday, by Director Charles B. Coe who bought 12,000 shares for a cost of $6.86 each, for a total investment of $82,355. This buy marks the first one filed by Coe in the past twelve months. Internap Network Services is trading down about 0.6% on the day Friday. So far Coe is in the green, up about 6.2% on their purchase based on today's trading high of $7.29.
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