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 AT&T (NYSE:T), a filing with the SEC revealed that on Monday, Director Geoffrey Y. Yang bought 33,558 shares of T, for a cost of $29.79 each, for a total investment of $999,535. Bargain hunters have the opportunity to buy T at a price even lower than Yang did, with shares changing hands as low as $29.12 in trading on Thursday — that's 2.2% under Yang's purchase price. AT&T is trading down about 1.2% on the day Thursday. Before this latest buy, Yang purchased T on 2 other occasions during the past year, for a total cost of $2.49M at an average of $30.42 per share.
And at JPMorgan Chase & Co (NYSE:JPM), there was insider buying on Tuesday, by Director James S. Crown who purchased 5,000 shares for a cost of $103.79 each, for a trade totaling $518,950. This buy marks the first one filed by Crown in the past twelve months. JPMorgan Chase & Co is trading off about 1.1% on the day Thursday. Investors are able to grab JPM even cheaper than Crown did, with the stock changing hands as low as $102.33 at last check today which is 1.4% below Crown's purchase price.
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