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 Aeropostale (ARO), a filing with the SEC revealed that on Monday, Director Karin Hirtler-Garvey purchased 55,000 shares of ARO, at a cost of $3.56 each, for a total investment of $196,021. Hirtler-Garvey was up about 17.3% on the buy at the high point of today's trading session, with ARO trading as high as $4.18 at last check today. Aeropostale is trading up about 8.6% on the day Wednesday. This buy marks the first one filed by Hirtler-Garvey in the past twelve months.
And at Babson Capital Global Short Duration High Yield Fund (NYSE:BGH), there was insider buying on Monday, by Mark Senkpiel who purchased 5,500 shares for a cost of $23.36 each, for a total investment of $128,470. Before this latest buy, Senkpiel made one other purchase in the past twelve months, buying $47,884 shares for a cost of $23.94 a piece. Babson Capital Global Short Duration High Yield Fund is trading up about 1% on the day Wednesday. Senkpiel was up about 1.2% on the buy at the high point of today's trading session, with BGH trading as high as $23.63 in trading on Wednesday.
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