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 MannKind Corp (NASDAQ:MNKD), a filing with the SEC revealed that on Friday, Director Kent Kresa purchased 166,600 shares of MNKD, at a cost of $6.00 each, for a total investment of $999,600. Bargain hunters can bag MNKD even cheaper than Kresa did, with the stock changing hands as low as $5.40 in trading on Monday which is 10.0% below Kresa's purchase price. MannKind Corp is trading up about 7.6% on the day Monday.
And at Paramount Gold Nevada Corp (AMEX:PZG), there was insider buying on Thursday, by Director Christopher J. Reynolds who purchased 10,000 shares at a cost of $1.40 each, for a trade totaling $14,000. Before this latest buy, Reynolds purchased PZG at 2 other times during the past year, for a total cost of $37,600 at an average of $1.88 per share. Paramount Gold Nevada Corp is trading up about 3.1% on the day Monday. Investors have the opportunity to buy PZG at a price even lower than Reynolds did, with the stock changing hands as low as $1.34 at last check today which is 4.3% below Reynolds's purchase price.
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