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 (NASDAQ: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.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.