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 Spectra Energy (NYSE:SE), a filing with the SEC revealed that on Monday, CEO Gregory L. Ebel bought 6,200 shares of SE, for a cost of $40.42 each, for a total investment of $250,590. So far Ebel is in the green, up about 1.9% on their buy based on today's trading high of $41.20. Spectra Energy is trading up about 0.9% on the day Thursday. This buy marks the first one filed by Ebel in the past twelve months.
And at Carbo Ceramics (NYSE:CRR), there was insider buying on Monday, by Vice President Don P. Conkle who bought 1,960 shares for a cost of $107.61 each, for a total investment of $210,916. This purchase marks the first one filed by Conkle in the past year. Carbo Ceramics is trading off about 0.7% on the day Thursday. Bargain hunters are able to buy CRR even cheaper than Conkle did, with shares trading as low as $104.62 in trading on Thursday -- that's 2.8% below Conkle's purchase price.
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