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 Triumph Group (NYSE:TGI), a filing with the SEC revealed that on Thursday, CEO Daniel J. Crowley purchased 250,000 shares of TGI, for a cost of $25.51 each, for a total investment of $6.38M. So far Crowley is in the green, up about 8.2% on their purchase based on today's trading high of $27.59. Triumph Group is trading up about 0.8% on the day Friday.
And at CIT Group (NYSE:CIT), there was insider buying on Thursday, by CEO John A. Thain who purchased 50,000 shares for a cost of $27.31 each, for a trade totaling $1.37M. This purchase marks the first one filed by Thain in the past year. CIT Group is trading up about 3.4% on the day Friday. Thain was up about 5.4% on the purchase at the high point of today's trading session, with CIT trading as high as $28.78 at last check today.
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