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, GulfMark Offshore (AMEX:GLF)'s COO, David B. Rosenwasser, made a $347,552 buy of GLF, purchasing 9,000 shares at a cost of $38.62 a piece. Rosenwasser was up about 2.2% on the buy at the high point of today's trading session, with GLF trading as high as $39.47 at last check today. GulfMark Offshore is trading down about 0.1% on the day Wednesday.
And at Life-Time Fitness (NYSE:LTM), there was insider buying on Tuesday, by Director Jack W. Eugster who purchased 5,000 shares for a cost of $39.05 each, for a trade totaling $195,230. Before this latest buy, Eugster bought LTM on 2 other occasions during the past year, for a total cost of $139,577 at an average of $46.53 per share. Life-Time Fitness is trading up about 2% on the day Wednesday. So far Eugster is in the green, up about 3.3% on their buy based on today's trading high of $40.32.
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