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 Madison Strategic Sector Premium (NYSE:MSP), a filing with the SEC revealed that on Friday, Frank E. Burgess bought 430,000 shares of MSP, for a cost of $12.01 each, for a total investment of $5.16M. Bargain hunters have the opportunity to pick up MSP even cheaper than Burgess did, with the stock trading as low as $11.63 at last check today which is 3.1% below Burgess's purchase price. Madison Strategic Sector Premium is trading up about 0.8% on the day Wednesday. This purchase marks the first one filed by Burgess in the past twelve months.
And on Monday, EVP, CFO Nicholas W. Alexos purchased $3.29M worth of DENTSPLY SIRONA (NASDAQ:XRAY), purchasing 50,000 shares at a cost of $65.85 a piece. This buy marks the first one filed by Alexos in the past twelve months. DENTSPLY SIRONA is trading up about 0.9% on the day Wednesday.
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