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 Cliffs Natural Resources (NYSE:CLF), a filing with the SEC revealed that on Thursday, CEO Lourenco Goncalves bought 100,000 shares of CLF, for a cost of $7.19 each, for a total investment of $719,180. Cliffs Natural Resources is trading up about 0.3% on the day Friday. Before this latest buy, Goncalves made one other purchase in the past year, buying $1.26M shares at a cost of $6.31 a piece.
And at Taubman Centers (TCO), there was insider buying on Wednesday, by Director Myron E. Ullman III who purchased 12,325 shares at a cost of $56.90 each, for a total investment of $701,308. This buy marks the first one filed by Ullman III in the past year. Taubman Centers is trading down about 1.3% on the day Friday. Investors have the opportunity to pick up TCO even cheaper than Ullman III did, with the stock changing hands as low as $54.00 in trading on Friday which is 5.1% below Ullman III's purchase price.
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.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 8.7%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 8.7%.