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, Enterprise Products Partners's Chief Executive Officer, AJ Teague, made a $299,100 purchase of EPD, buying 11,300 shares at a cost of $26.47 each. Enterprise Products Partners is trading off about 0.1% on the day Thursday. Before this latest buy, Teague made one other buy in the past year, purchasing $200,130 shares at a cost of $24.26 a piece.
And also on Wednesday, Director Derace L. Schaffer bought $259,356 worth of Altimmune, buying 147,130 shares at a cost of $1.76 a piece. Before this latest buy, Schaffer purchased ALT at 7 other times during the past year, for a total cost of $496,572 at an average of $2.06 per share. Altimmune is trading up about 0.8% on the day Thursday. So far Schaffer is in the green, up about 4.9% on their buy based on today's trading high of $1.85.
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