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 Tuesday, Otelco (NASDAQ:OTEL)'s , Ira Sochet, made a $461,168 purchase of OTEL, buying 28,120 shares at a cost of $16.40 a piece. Otelco is trading down about 1.8% on the day Thursday. Before this latest buy, Sochet bought OTEL on 15 other occasions during the past twelve months, for a total investment of $4.19M at an average of $15.46 per share.
And at Altria Group (NYSE:MO), there was insider buying on Monday, by Director Nabil Y. Sakkab who bought 1,352 shares for a cost of $52.11 each, for a total investment of $70,448. Before this latest buy, Sakkab made one other buy in the past year, purchasing $52,033 shares at a cost of $50.42 each. Altria Group is trading down about 0.2% on the day Thursday.
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