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 Griffon Corp. (NYSE:GFF), a filing with the SEC revealed that on Tuesday, CEO Ronald J. Kramer purchased 20,000 shares of GFF, at a cost of $15.84 each, for a total investment of $316,800. Griffon Corp. is trading up about 1.7% on the day Wednesday. This buy marks the first one filed by Kramer in the past twelve months.
And also on Tuesday, Director Peter R. Fisher bought $248,189 worth of American International Group (NYSE:AIG), buying 4,280 shares at a cost of $57.99 each. Before this latest buy, Fisher made one other buy in the past year, purchasing $249,924 shares for a cost of $52.95 each. American International Group is trading off about 0.1% on the day Wednesday.
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