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 THL Credit (NASDAQ:TCRD), a filing with the SEC revealed that on Friday, CFO Terrence W. Olson bought 370,340 shares of TCRD, at a cost of $7.84 each, for a total investment of $2.90M. THL Credit is trading up about 0.8% on the day Wednesday.
And on Tuesday, Director Jorge Colon bought $139,728 worth of OFG Bancorp (NYSE:OFG), buying 10,000 shares at a cost of $13.97 each. OFG Bancorp is trading up about 0.4% on the day Wednesday. So far Colon is in the green, up about 3.1% on their buy based on today's trading high of $14.40.
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