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 Target (NYSE:TGT), a filing with the SEC revealed that on Monday, Director Roxanne S. Austin bought 10,000 shares of TGT, at a cost of $56.78 each, for a total investment of $567,796. Austin was up about 1.4% on the buy at the high point of today's trading session, with TGT trading as high as $57.55 at last check today. Target is trading up about 0.1% on the day Thursday. This buy marks the first one filed by Austin in the past year.
And at ReachLocal (NASDAQ:RLOC), there was insider buying on Wednesday, by Chief Executive Officer Sharon T. Rowlands who purchased 80,000 shares for a cost of $6.13 each, for a total investment of $490,792. This purchase marks the first one filed by Rowlands in the past year. ReachLocal is trading up about 5.1% on the day Thursday. Rowlands was up about 6.8% on the buy at the high point of today's trading session, with RLOC trading as high as $6.55 at last check today.
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