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 Medley Capital Corporation (NYSE:MCC), a filing with the SEC revealed that on Thursday, Chief Executive Officer Brook Taube purchased 117,680 shares of MCC, at a cost of $7.48 each, for a total investment of $880,534. Medley Capital Corporation is trading up about 1.4% on the day Friday. Before this latest buy, Taube bought MCC on 19 other occasions during the past year, for a total cost of $18.74M at an average of $7.39 per share.
And at Sequential Brands Group (NASDAQ:SQBG), there was insider buying on Monday, by Director Al Gossett who bought 100,000 shares for a cost of $3.43 each, for a total investment of $343,000. Before this latest buy, Gossett made one other buy in the past year, purchasing $446,000 shares for a cost of $4.46 each. Sequential Brands Group is trading trading flat on the day Friday.
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.