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, Union Pacific (NYSE:UNP)'s Director, Michael R. McCarthy, made a $3.90M buy of UNP, purchasing 50,000 shares at a cost of $78.06 each. Investors are able to buy UNP at a price even lower than McCarthy did, with shares changing hands as low as $74.78 in trading on Tuesday -- that's 4.2% under McCarthy's purchase price. Union Pacific is trading off about 1.9% on the day Tuesday. This buy marks the first one filed by McCarthy in the past twelve months.
And also on Friday, Group Chief Financial Officer Jamie Welch bought $787,500 worth of Energy Transfer Equity (ETE), buying 50,000 shares at a cost of $15.75 a piece. This purchase marks the first one filed by Welch in the past year. Energy Transfer Equity is trading up about 3.1% on the day Tuesday. Bargain hunters are able to pick up ETE even cheaper than Welch did, with the stock trading as low as $11.95 at last check today which is 24.1% below Welch's purchase price.
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