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 Wednesday, PBF Logistics LP (PBFX)'s Director, Thomas D. O'Malley, made a $1.26M purchase of PBFX, buying 52,215 shares at a cost of $24.15 each. O'Malley was up about 7.7% on the purchase at the high point of today's trading session, with PBFX trading as high as $26.01 at last check today. PBF Logistics LP is trading up about 2.1% on the day Friday. Before this latest buy, O'Malley purchased PBFX at 3 other times during the past twelve months, for a total investment of $11.24M at an average of $23.02 per share.
And at Dominion Resources (NYSE:D), there was insider buying on Tuesday, by Director Helen E. Dragas who purchased 6,925 shares for a cost of $72.15 each, for a trade totaling $499,666. Before this latest buy, Dragas made one other buy in the past twelve months, purchasing $250,000 shares at a cost of $68.99 a piece. Dominion Resources is trading up about 0.9% on the day Friday. So far Dragas is in the green, up about 2.3% on their buy based on today's trading high of $73.82.
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