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 Bain Capital Specialty Finance, a filing with the SEC revealed that on Thursday, Director Jeffrey B. Hawkins purchased 18,204 shares of BCSF, at a cost of $12.50 each, for a total investment of $227,550. So far Hawkins is in the green, up about 3.6% on their purchase based on today's trading high of $12.95. Bain Capital Specialty Finance is trading off about 0.6% on the day Monday. Before this latest buy, Hawkins purchased BCSF on 2 other occasions during the past year, for a total cost of $497,072 at an average of $15.96 per share.
And on Wednesday, Director Robert L. Crandall purchased $206,360 worth of Gogo, purchasing 20,000 shares at a cost of $10.32 a piece. This buy marks the first one filed by Crandall in the past twelve months. Gogo is trading up about 4.6% on the day Monday.
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