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 Bristol-Myers Squibb Co. (NYSE:BMY), a filing with the SEC revealed that on Wednesday, Director Robert J. Bertolini purchased 11,000 shares of BMY, for a cost of $44.72 each, for a total investment of $491,920. Bertolini was up about 1.5% on the buy at the high point of today's trading session, with BMY trading as high as $45.41 at last check today. Bristol-Myers Squibb Co. is trading up about 0.4% on the day Friday. This purchase marks the first one filed by Bertolini in the past year.
And at Mastercard (NYSE:MA), there was insider buying on Thursday, by Director Lance Darrell Gordon Uggla who bought 1,500 shares at a cost of $275.71 each, for a total investment of $413,560. Mastercard is trading off about 2.1% on the day Friday. Bargain hunters can buy MA at a price even lower than Uggla did, with shares trading as low as $268.27 at last check today which is 2.7% below Uggla's purchase price.
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