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 Friday, Solar Capital's Michael S. Gross, made a $356,396 purchase of SLRC, buying 39,101 shares at a cost of $9.11 a piece. So far Gross is in the green, up about 38.3% on their purchase based on today's trading high of $12.61. Solar Capital is trading up about 19.2% on the day Wednesday. Before this latest buy, Gross bought SLRC on 5 other occasions during the past twelve months, for a total cost of $2.88M at an average of $15.09 per share.
And at Century Casinos, there was insider buying on Friday, by Vice Chairman Peter Hoetzinger who bought 250,000 shares at a cost of $1.35 each, for a trade totaling $337,500. This purchase marks the first one filed by Hoetzinger in the past year. Century Casinos is trading up about 22.5% on the day Wednesday. So far Hoetzinger is in the green, up about 181.5% on their purchase based on today's trading high of $3.80.
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