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 Monday, Central Securities' Vice President, Andrew J. O'neill, made a $29,817 purchase of CET, buying 1,129 shares at a cost of $26.41 each. So far O'neill is in the green, up about 0.5% on their purchase based on today's trading high of $26.53. Central Securities is trading off about 0.3% on the day Wednesday.
And at Knowles, there was insider buying on Monday, by President, Intelligent Audio Michael S. Polacek who bought 1,178 shares at a cost of $12.36 each, for a total investment of $14,560. Before this latest buy, Polacek purchased KN at 6 other times during the past twelve months, for a total cost of $124,356 at an average of $15.27 per share. Knowles is trading up about 0.1% on the day Wednesday. Bargain hunters can buy KN at a price even lower than Polacek did, with the stock changing hands as low as $11.95 at last check today -- that's 3.3% below Polacek's purchase price.
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