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 Tuesday, Memorial Production Partners (NASDAQ:MEMP)'s Director, Robert A. Innamorati, made a $479,885 purchase of MEMP, buying 21,344 shares at a cost of $22.48 a piece. Innamorati was up about 2.1% on the purchase at the high point of today's trading session, with MEMP trading as high as $22.95 at last check today. Memorial Production Partners is trading off about 0.3% on the day Wednesday. This purchase marks the first one filed by Innamorati in the past twelve months.
And at McDermott International (NYSE:MDR), there was insider buying on Tuesday, by Director John F. Bookout III who purchased 50,000 shares at a cost of $7.71 each, for a trade totaling $385,620. This purchase marks the first one filed by Bookout III in the past twelve months. McDermott International is trading up about 1.3% on the day Wednesday.
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