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 Tuesday, Apollo Commercial Real Estate Finance (NYSE:ARI)'s Director, Eric Press, made a $1.58M buy of ARI, purchasing 91,278 shares at a cost of $17.36 each. Investors have the opportunity to buy ARI at a price even lower than Press did, with shares trading as low as $16.71 at last check today -- that's 3.8% under Press's purchase price. Apollo Commercial Real Estate Finance is trading off about 3.6% on the day Thursday. Before this latest buy, Press made one other buy in the past year, purchasing $344,353 shares at a cost of $16.24 a piece.
And also on Tuesday, Michael S. Gross bought $1.06M worth of Solar Capital Limited (NASDAQ:SLRC), buying 52,236 shares at a cost of $20.25 a piece. Before this latest buy, Gross purchased SLRC on 3 other occasions during the past year, for a total cost of $2.77M at an average of $20.38 per share. Solar Capital Limited is trading up about 0.9% on the day Thursday.
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