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, Swift Energy Company (NYSE:SFY)'s CEO, Terry E. Swift, made a $219,382 buy of SFY, purchasing 20,000 shares at a cost of $10.97 each. So far Swift is in the green, up about 4.3% on their purchase based on today's trading high of $11.44. Swift Energy Company is trading off about 1.1% on the day Thursday. Before this latest buy, Swift made one other purchase in the past twelve months, buying $141,080 shares at a cost of $14.11 a piece.
And at LNB Bancorp (LNBB), there was insider buying on Wednesday, by Director James R. Herrick who bought 16,084 shares at a cost of $12.00 each, for a total investment of $193,008. Before this latest buy, Herrick bought LNBB on 3 other occasions during the past year, for a total investment of $610,435 at an average of $10.46 per share. LNB Bancorp is trading up about 0.6% on the day Thursday. So far Herrick is in the green, up about 5.0% on their purchase based on today's trading high of $12.60.
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