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 Crown Castle International Corp (NYSE:CCI), a filing with the SEC revealed that on Wednesday, Director J. Landis Martin purchased 18,350 shares of CCI, for a cost of $123.13 each, for a total investment of $2.26M. Martin was up about 1.3% on the buy at the high point of today's trading session, with CCI trading as high as $124.70 at last check today. Crown Castle International Corp is trading up about 1% on the day Friday. Before this latest buy, Martin made one other purchase in the past twelve months, buying $1.09M shares for a cost of $110.14 each.
And at Pinterest (NYSE:PINS), there was insider buying on Tuesday, by Director Fredric G. Reynolds who purchased 40,000 shares for a cost of $27.04 each, for a total investment of $1.08M. This purchase marks the first one filed by Reynolds in the past twelve months. Pinterest is trading up about 2% on the day Friday. Reynolds was up about 13.5% on the purchase at the high point of today's trading session, with PINS trading as high as $30.68 in trading on Friday.
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