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 Aldeyra Therapeutics (NASDAQ:ALDX), a filing with the SEC revealed that on Friday, Director Richard Douglas purchased 40,000 shares of ALDX, for a cost of $4.50 each, for a total investment of $180,000. Douglas was up about 14.4% on the purchase at the high point of today's trading session, with ALDX trading as high as $5.15 in trading on Wednesday. Aldeyra Therapeutics is trading trading flat on the day Wednesday.
And also on Friday, Director James Castro-Blanco purchased $92,400 worth of Fifth Street Finance (FSC), purchasing 20,000 shares at a cost of $4.62 each. Fifth Street Finance Corporation is trading down about 0.4% on the day Wednesday. Bargain hunters can pick up FSC at a price even lower than Castro-Blanco did, with shares changing hands as low as $4.54 in trading on Wednesday -- that's 1.7% under Castro-Blanco's purchase price.
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