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 Philip Morris International, a filing with the SEC revealed that on Monday, Director Jennifer Li bought 40,000 shares of PM, for a cost of $81.30 each, for a total investment of $3.25M. Philip Morris International is trading up about 1.2% on the day Wednesday.
And at CenturyLink, there was insider buying on Friday, by Director Steven T. Clontz who bought 41,000 shares at a cost of $19.44 each, for a trade totaling $796,936. Before this latest buy, Clontz bought CTL on 2 other occasions during the past year, for a total cost of $913,541 at an average of $15.10 per share. CenturyLink is trading down about 0.3% on the day Wednesday.
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