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 Friday, Gran Tierra Energy (AMEX:GTE)'s Director, Brooke N. Wade, made a $559,678 purchase of GTE, buying 242,600 shares at a cost of $2.31 a piece. Investors can pick up GTE at a price even lower than Wade did, with shares changing hands as low as $2.16 in trading on Wednesday -- that's 6.4% under Wade's purchase price. Gran Tierra Energy is trading off about 1.8% on the day Wednesday. Before this latest buy, Wade made one other buy in the past year, purchasing $369,334 shares at a cost of $2.59 a piece.
And on Monday, Director Michael Marberry purchased $24,956 worth of AdvanSix (NYSE:ASIX), purchasing 625 shares at a cost of $39.93 each. Before this latest buy, Marberry bought ASIX on 6 other occasions during the past year, for a total cost of $172,963 at an average of $26.92 per share. AdvanSix is trading up about 1.3% on the day Wednesday. Marberry was up about 4.8% on the purchase at the high point of today's trading session, with ASIX trading as high as $41.86 at last check today.
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