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 Monday, Tallgrass Energy Partners (TEP)'s CEO, David G. Dehaemers Jr., made a $332,332 buy of TEP, purchasing 7,700 shares at a cost of $43.16 each. So far Dehaemers Jr. is in the green, up about 9.0% on their purchase based on today's trading high of $47.04. Tallgrass Energy Partners is trading down about 0.6% on the day Thursday. Before this latest buy, Dehaemers Jr. bought TEP on 3 other occasions during the past twelve months, for a total cost of $114,014 at an average of $31.60 per share.
And on Wednesday, Chief Executive Officer Carl Fredrick Giesler purchased $199,732 worth of Miller Energy Resources (MILL), purchasing 40,000 shares at a cost of $4.99 each. Miller Energy Resources is trading off about 0.8% on the day Thursday.
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