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 Friday, Medgenics (MDGN)'s Director, Sol J. Barer, made a $422,500 purchase of MDGN, buying 50,000 shares at a cost of $8.45 a piece. Bargain hunters can snag MDGN even cheaper than Barer did, with the stock changing hands as low as $8.03 in trading on Monday which is 5.0% below Barer's purchase price. Medgenics is trading up about 1.8% on the day Monday. Before this latest buy, Barer bought MDGN on 4 other occasions during the past year, for a total cost of $3.25M at an average of $5.39 per share.
And at Annaly Capital Management (NYSE:NLY), there was insider buying on Wednesday, by Chief Financial Officer Glenn Votek who bought 25,000 shares at a cost of $10.65 each, for a total investment of $266,250. Annaly Capital Management is trading up about 1.4% on the day Monday. Votek was up about 2.3% on the buy at the high point of today's trading session, with NLY trading as high as $10.90 at last check today.
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