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 Wednesday, Akamai Technologies (NASDAQ:AKAM)'s Chief Executive Officer, F. Thomson Leighton, made a $999,761 buy of AKAM, purchasing 18,545 shares at a cost of $53.91 a piece. Leighton was up about 3.1% on the purchase at the high point of today's trading session, with AKAM trading as high as $55.56 in trading on Friday. Akamai Technologies is trading up about 0.5% on the day Friday. Before this latest buy, Leighton purchased AKAM on 6 other occasions during the past twelve months, for a total cost of $6M at an average of $51.19 per share.
And at Stellus Capital Investment Corporation (NYSE:SCM), there was insider buying on Wednesday, by Director Joshua T. Davis who purchased 50,000 shares at a cost of $12.35 each, for a total investment of $617,300. This purchase marks the first one filed by Davis in the past year. Stellus Capital Investment Corporation is trading trading flat on the day Friday. So far Davis is in the green, up about 2.8% on their buy based on today's trading high of $12.69.
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