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 FinTech Acquisition Corp II (FNTE), a filing with the SEC revealed that on Wednesday, Director Betsy Z. Cohen purchased 500,000 shares of FNTE, for a cost of $10.05 each, for a total investment of $5.03M. So far Cohen is in the green, up about 3.4% on their purchase based on today's trading high of $10.39. FinTech Acquisition Corp II is trading up about 1.8% on the day Monday. Before this latest buy, Cohen made one other buy in the past year, purchasing $5.03M shares at a cost of $10.05 a piece.
And at Blackrock (NYSE:BLK), there was insider buying on Wednesday, by Director William E. Ford who bought 1,000 shares for a cost of $507.98 each, for a trade totaling $507,983. Before this latest buy, Ford made one other purchase in the past twelve months, buying $530,949 shares at a cost of $530.95 each. Blackrock is trading up about 0.6% on the day Monday.
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