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 Macquarie Infrastructure, a filing with the SEC revealed that on Monday, Chief Executive Officer Christopher Frost bought 25,160 shares of MIC, for a cost of $39.73 each, for a total investment of $999,607. So far Frost is in the green, up about 2.5% on their purchase based on today's trading high of $40.71. Macquarie Infrastructure is trading up about 0.6% on the day Thursday. Before this latest buy, Frost purchased MIC at 2 other times during the past year, for a total investment of $997,512 at an average of $46.12 per share.
And on Wednesday, Director Richard P. Teets Jr. bought $677,000 worth of Steel Dynamics, buying 20,000 shares at a cost of $33.85 each. This purchase marks the first one filed by Teets Jr. in the past year. Steel Dynamics is trading down about 0.7% on the day Thursday. So far Teets Jr. is in the green, up about 4.4% on their buy based on today's trading high of $35.33.
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