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, W.P. Carey's Director, Mark A. Alexander, made a $235,100 purchase of WPC, buying 4,000 shares at a cost of $58.77 each. So far Alexander is in the green, up about 5.9% on their purchase based on today's trading high of $62.25. W.P. Carey is trading down about 1% on the day Friday. Before this latest buy, Alexander bought WPC on 2 other occasions during the past year, for a total investment of $428,274 at an average of $67.98 per share.
And on Thursday, Director William F. Austen purchased $201,929 worth of Arconic, purchasing 17,620 shares at a cost of $11.46 a piece. This buy marks the first one filed by Austen in the past year. Arconic is trading up about 3.2% on the day Friday. Austen was up about 10.8% on the buy at the high point of today's trading session, with ARNC trading as high as $12.70 at last check today.
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