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 Wednesday, Applied Industrial Technologies (NYSE:AIT)'s Director, L. Thomas Hiltz, made a $106,289 buy of AIT, purchasing 2,500 shares at a cost of $42.52 a piece. Applied Industrial Technologies, Inc. is trading up about 0.6% on the day Wednesday.
And at SLM Corp. (NASDAQ:SLM), there was insider buying on Tuesday, by Director Marianne M. Keler who bought 10,000 shares at a cost of $9.21 each, for a total investment of $92,099. This purchase marks the first one filed by Keler in the past twelve months. SLM Corp. is trading up about 0.7% on the day Wednesday.
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