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 Platform Specialty Products Corp (NYSE:PAH), a filing with the SEC revealed that on Monday, Director Martin E. Franklin purchased 500,000 shares of PAH, at a cost of $9.66 each, for a total investment of $4.83M. Franklin was up about 5.7% on the buy at the high point of today's trading session, with PAH trading as high as $10.21 in trading on Tuesday. Platform Specialty Products Corp is trading up about 1% on the day Tuesday. This purchase marks the first one filed by Franklin in the past year.
And at Depomed (DEPO), there was insider buying on Thursday, by CEO Arthur J. Higgins who bought 75,000 shares for a cost of $8.16 each, for a total investment of $612,000. Before this latest buy, Higgins made one other purchase in the past year, buying $148,800 shares at a cost of $9.92 each. Depomed is trading up about 1.5% on the day Tuesday. Higgins was up about 7.2% on the purchase at the high point of today's trading session, with DEPO trading as high as $8.75 at last check today.
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