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 American Outdoor Brands Corp (AOBC), a filing with the SEC revealed that on Monday, CEO P. James Debney purchased 10,000 shares of AOBC, for a cost of $20.92 each, for a total investment of $209,200. Bargain hunters have the opportunity to buy AOBC at a price even lower than Debney did, with the stock changing hands as low as $20.08 at last check today which is 4.0% below Debney's purchase price. American Outdoor Brands Corp is trading off about 0.4% on the day Thursday. This buy marks the first one filed by Debney in the past year.
And on Tuesday, Director Cynthia Egan bought $98,098 worth of BlackRock Debt Strategies Fund (NYSE:DSU), buying 8,550 shares at a cost of $11.47 a piece. This buy marks the first one filed by Egan in the past twelve months. BlackRock Debt Strategies Fund is trading trading flat on the day Thursday. Thus far Egan is down about 0.7% on the buy, with shares trading as low as $11.39 at last check today.
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