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 Tuesday, Argan (NYSE:AGX)'s Director, John Ronald Jeffrey Jr., made a $93,735 purchase of AGX, buying 1,500 shares at a cost of $62.49 each. Jeffrey Jr. was up about 5.2% on the purchase at the high point of today's trading session, with AGX trading as high as $65.75 at last check today. Argan is trading up about 1.1% on the day Thursday. Before this latest buy, Jeffrey Jr. made one other purchase in the past year, buying $60,950 shares for a cost of $60.95 each.
And at Guggenheim Build America Bonds Managed Duration Trust (NYSE:GBAB), there was insider buying on Monday, by Anne Bookwalter Walsh who purchased 3,000 shares for a cost of $23.00 each, for a total investment of $69,000. Guggenheim Build America Bonds Managed Duration Trust is trading off about 0.1% on the day Thursday. Thus far Walsh is down about 0.7% on the purchase, with shares trading as low as $22.84 in trading on Thursday.
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