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 (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 (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.
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