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 Friday, Equus Total Return (NYSE:EQS)'s Chief Executive Officer, John A. Hardy, made a $1.2M buy of EQS, purchasing 500,000 shares at a cost of $2.40 a piece. Hardy was up about 4.2% on the purchase at the high point of today's trading session, with EQS trading as high as $2.50 in trading on Monday. Equus Total Return is trading up about 2.1% on the day Monday.
And also on Friday, Chief Executive Officer Claude Leblanc purchased $390,993 worth of Ambac Financial Group (NASDAQ:AMBC), purchasing 20,000 shares at a cost of $19.55 each. This purchase marks the first one filed by Leblanc in the past twelve months. Ambac Financial Group is trading off about 0.9% on the day Monday.
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