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 Thursday, Martin Midstream Partners LP (NASDAQ:MMLP)'s CFO, Robert D. Bondurant, made a $5,830 purchase of MMLP, buying 408 shares at a cost of $14.28 each. Investors are able to bag MMLP at a price even lower than Bondurant did, with the stock changing hands as low as $14.05 in trading on Monday which is 1.6% below Bondurant's purchase price. Martin Midstream Partners LP is trading up about 2% on the day Monday. Before this latest buy, Bondurant purchased MMLP at 9 other times during the past year, for a total cost of $75,694 at an average of $15.45 per share.
And at Kingsway Financial Services (NYSE:KFS), there was insider buying on Friday, by COO John Taylor Maloney Fitzgerald who purchased 433 shares for a cost of $3.84 each, for a trade totaling $1,664. Before this latest buy, Fitzgerald bought KFS at 29 other times during the past year, for a total cost of $76,460 at an average of $5.56 per share. Kingsway Financial Services is trading up about 1.8% on the day Monday.
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