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, Kinder Morgan (NYSE:KMI)'s Director, Fayez Sarofim, made a $6.7M buy of KMI, purchasing 200,000 shares at a cost of $33.49 a piece. Sarofim was up about 2.2% on the purchase at the high point of today's trading session, with KMI trading as high as $34.22 in trading on Wednesday. Kinder Morgan is trading up about 1% on the day Wednesday. Before this latest buy, Sarofim made one other purchase in the past twelve months, buying $15.07M shares for a cost of $37.68 each.
And at MBIA (NYSE:MBI), there was insider buying on Tuesday, by Chief Executive Officer Joseph W. Brown who purchased 62,165 shares for a cost of $11.71 each, for a trade totaling $728,021. MBIA is trading up about 5.2% on the day Wednesday. So far Brown is in the green, up about 5.2% on their buy based on today's trading high of $12.32.
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