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 Friday, Seritage Growth Properties (NYSE:SRG)'s, Edward S. Lampert, made a $2.81M buy of SRG, purchasing 77,638 shares at a cost of $36.17 each. Seritage Growth Properties is trading up about 0.4% on the day Wednesday. This buy marks the first one filed by Lampert in the past year.
And at Fortress Transportation & Infrastructure Investors (NYSE:FTAI), there was insider buying on Friday, by Director Martin Tuchman who purchased 79,324 shares for a cost of $16.41 each, for a total investment of $1.30M. Before this latest buy, Tuchman made one other buy in the past twelve months, purchasing $466,250 shares for a cost of $18.65 each. Fortress Transportation & Infrastructure Investors is trading up about 0.3% on the day Wednesday. Investors are able to snag FTAI at a price even lower than Tuchman did, with the stock trading as low as $16.25 in trading on Wednesday -- that's 1.0% under Tuchman's purchase price.
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