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 PBF Energy (NYSE:PBF), a filing with the SEC revealed that on Tuesday, Chief Executive Officer Thomas J. Nimbley bought 50,000 shares of PBF, for a cost of $19.69 each, for a total investment of $984,500. Investors can bag PBF at a price even lower than Nimbley did, with shares changing hands as low as $19.37 in trading on Thursday which is 1.6% below Nimbley's purchase price. PBF Energy is trading up about 1.5% on the day Thursday. Before this latest buy, Nimbley purchased PBF on 2 other occasions during the past year, for a total cost of $2.46M at an average of $24.62 per share.
And at Alnylam Pharmaceuticals (NASDAQ:ALNY), there was insider buying on Tuesday, by SVP, GC and Secretary Laurie Keating who purchased 11,500 shares for a cost of $65.35 each, for a total investment of $751,502. This buy marks the first one filed by Keating in the past year. Alnylam Pharmaceuticals is trading up about 4.2% on the day Thursday. So far Keating is in the green, up about 4.7% on their buy based on today's trading high of $68.40.
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