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 Monday, NiSource (NYSE:NI)'s Director, Michael E. Jesanis, made a $270,360 purchase of NI, buying 12,000 shares at a cost of $22.53 a piece. Bargain hunters are able to snag NI even cheaper than Jesanis did, with the stock trading as low as $21.94 at last check today which is 2.6% below Jesanis's purchase price. NiSource is trading up about 0.1% on the day Tuesday. This purchase marks the first one filed by Jesanis in the past twelve months.
And on Friday, CEO David P. Southwell purchased $105,000 worth of Inotek Pharmaceuticals Corp (NASDAQ:ITEK), purchasing 60,000 shares at a cost of $1.75 each. Inotek Pharmaceuticals Corp is trading up about 2.9% on the day Tuesday.
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