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 Sunstone Hotel Investors (NYSE:SHO), a filing with the SEC revealed that on Monday, SVP- General Counsel David Ryan Sloan purchased 17,750 shares of SHO, for a cost of $13.80 each, for a total investment of $244,950. Bargain hunters can snag SHO at a price even lower than Sloan did, with shares trading as low as $12.76 in trading on Wednesday which is 7.5% below Sloan's purchase price. Sunstone Hotel Investors is trading up about 1.2% on the day Wednesday.
And also on Monday, CEO Joseph A. Jolson bought $132,480 worth of JMP Group (JMP), buying 24,252 shares at a cost of $5.46 a piece. Before this latest buy, Jolson purchased JMP at 6 other times during the past year, for a total investment of $2.41M at an average of $6.69 per share. JMP Group is trading down about 0.8% on the day Wednesday. Investors are able to grab JMP even cheaper than Jolson did, with the stock changing hands as low as $5.11 at last check today -- that's 6.5% under Jolson's purchase price.
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