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 (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.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.