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 AllianceBernstein National Municipal Income Fund (NYSE:AFB), a filing with the SEC revealed that on Tuesday, Senior Vice President Douglas J. Peebles bought 35,000 shares of AFB, at a cost of $13.40 each, for a total investment of $469,000. So far Peebles is in the green, up about 1.3% on their buy based on today's trading high of $13.57. AllianceBernstein National Municipal Income Fund is trading off about 0.1% on the day Thursday. Before this latest buy, Peebles purchased AFB at 2 other times during the past twelve months, for a total cost of $1.24M at an average of $12.44 per share.
And at Brady Corp. (NYSE:BRC), there was insider buying on Wednesday, by Director Patrick W. Allender who purchased 15,000 shares for a cost of $23.38 each, for a total investment of $350,730. Brady Corp. is trading up about 3.5% on the day Thursday.
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