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 Monday, Fresh Market (TFM)'s, Ray D. Berry, made a $13.25M buy of TFM, purchasing 435,000 shares at a cost of $30.47 a piece. Berry was up about 6.5% on the purchase at the high point of today's trading session, with TFM trading as high as $32.44 in trading on Tuesday. Fresh Market is trading up about 4.7% on the day Tuesday. This purchase marks the first one filed by Berry in the past year.
And on Friday, Director William E. Greehey purchased $4.90M worth of NuStar Energy L.P. (NYSE:NS), purchasing 85,000 shares at a cost of $57.70 each. Before this latest buy, Greehey bought NS on 3 other occasions during the past twelve months, for a total cost of $7.86M at an average of $50.01 per share. NuStar Energy L.P. is trading up about 1.6% on the day Tuesday. Greehey was up about 2.5% on the purchase at the high point of today's trading session, with NS trading as high as $59.15 in trading on Tuesday.
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