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 Fastenal (NASDAQ:FAST), a filing with the SEC revealed that on Tuesday, CEO Willard D. Oberton bought 2,000 shares of FAST, at a cost of $45.14 each, for a total investment of $90,274. Fastenal is trading up about 0.9% on the day Wednesday.
And at Ladenburg Thalmann Financial Services (AMEX:LTS), there was insider buying on Tuesday, by Director Saul Gilinski who purchased 10,000 shares at a cost of $3.55 each, for a total investment of $35,500. Before this latest buy, Gilinski purchased LTS on 15 other occasions during the past year, for a total investment of $1.09M at an average of $3.29 per share. Ladenburg Thalmann Financial Services is trading off about 0.5% on the day Wednesday. Gilinski was up about 7.6% on the buy at the high point of today's trading session, with LTS trading as high as $3.82 in trading on Wednesday.
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