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 Thursday, Barnes & Noble Education's, Zachary Levenick, made a $184,667 buy of BNED, purchasing 100,000 shares at a cost of $1.85 a piece. Levenick was up about 13.2% on the purchase at the high point of today's trading session, with BNED trading as high as $2.09 in trading on Friday. Barnes & Noble Education is trading up about 11.2% on the day Friday.
And at First Trust Senior Floating Rate 2022 Target Term, there was insider buying on Thursday, by Officer-Investment Adviser David McGarel who purchased 7,374 shares at a cost of $8.29 each, for a trade totaling $61,130. First Trust Senior Floating Rate 2022 Target Term is trading down about 0.4% on the day Friday. So far McGarel is down about 0.6% on the buy, with the stock changing hands as low as $8.24 at last check today.
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