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 Holly Energy Partners LP (NYSE:HEP), a filing with the SEC revealed that on Wednesday, Chief Executive Officer Michael Jennings bought 15,000 shares of HEP, at a cost of $33.30 each, for a total investment of $499,522. Holly Energy Partners LP is trading off about 2.1% on the day Friday. Before this latest buy, Jennings bought HEP on 2 other occasions during the past year, for a total investment of $232,646 at an average of $29.27 per share.
And at NorthStar Realty Europe Corp (NRE), there was insider buying on Thursday, by Director Albert Tylis who purchased 40,000 shares for a cost of $11.55 each, for a trade totaling $462,052. Before this latest buy, Tylis made one other buy in the past twelve months, purchasing $1.08M shares for a cost of $10.85 each. NorthStar Realty Europe Corp is trading up about 1.6% on the day Friday.
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