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 AK Steel Holding (NYSE:AKS), a filing with the SEC revealed that on Thursday, CEO James L. Wainscott purchased 160,000 shares of AKS, at a cost of $6.18 each, for a total investment of $988,976. Wainscott was up about 10.7% on the purchase at the high point of today's trading session, with AKS trading as high as $6.84 at last check today. AK Steel Holding is trading up about 3.2% on the day Monday. This purchase marks the first one filed by Wainscott in the past year.
And at Apollo Commercial Real Estate Finance (NYSE:ARI), there was insider buying on Wednesday, by Director Eric Press who bought 21,207 shares for a cost of $16.24 each, for a trade totaling $344,353. Apollo Commercial Real Estate Finance is trading up about 0.4% on the day Monday. Press was up about 1.9% on the purchase at the high point of today's trading session, with ARI trading as high as $16.54 at last check today.
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