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 Kennametal (NYSE:KMT), a filing with the SEC revealed that on Friday, CEO Christopher Rossi bought 29,880 shares of KMT, for a cost of $33.47 each, for a total investment of $999,933. Rossi was up about 4.6% on the purchase at the high point of today's trading session, with KMT trading as high as $35.00 in trading on Wednesday. Kennametal is trading off about 0.9% on the day Wednesday. This buy marks the first one filed by Rossi in the past twelve months.
And also on Friday, Director Jack Qunyao Gao purchased $250,000 worth of AMC Entertainment Holdings (NYSE:AMC), purchasing 20,000 shares at a cost of $12.50 a piece. Before this latest buy, Gao bought AMC at 2 other times during the past year, for a total cost of $164,206 at an average of $15.64 per share. AMC Entertainment Holdings is trading down about 1% on the day Wednesday. Gao was up about 2.4% on the buy at the high point of today's trading session, with AMC trading as high as $12.80 in trading on Wednesday.
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