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 Comerica (NYSE:CMA), a filing with the SEC revealed that on Tuesday, Director Reginald M. Turner Jr. bought 495 shares of CMA, for a cost of $40.42 each, for a total investment of $20,010. So far Turner Jr. is in the green, up about 4.0% on their purchase based on today's trading high of $42.06. Comerica is trading up about 2.9% on the day Thursday. Before this latest buy, Turner Jr. purchased CMA at 2 other times during the past year, for a total investment of $29,618 at an average of $47.77 per share.
And on Wednesday, Director Cary D. McMillan bought $15,147 worth of American Eagle Outfitters (NYSE:AEO), buying 1,100 shares at a cost of $13.77 each. American Eagle Outfitters is trading up about 2.2% on the day Thursday. So far McMillan is in the green, up about 4.9% on their buy based on today's trading high of $14.45.
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