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 Annaly Capital Management, a filing with the SEC revealed that on Friday, Director Thomas Edward Hamilton purchased 200,000 shares of NLY, at a cost of $5.96 each, for a total investment of $1.19M. So far Hamilton is in the green, up about 2.3% on their purchase based on today's trading high of $6.10. Annaly Capital Management is trading up about 4.4% on the day Monday.
And on Wednesday, Director Alan G. Spoon bought $1.10M worth of Fortive, buying 20,000 shares at a cost of $55.22 each. Fortive is trading up about 5.5% on the day Monday. Spoon was up about 6.4% on the buy at the high point of today's trading session, with FTV trading as high as $58.76 at last check today.
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