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, First Business Financial Services's Director, Gerald L. Kilcoyne, made a $100,300 purchase of FBIZ, buying 6,800 shares at a cost of $14.75 a piece. First Business Financial Services is trading up about 3.9% on the day Thursday.
And on Monday, Director Alan L. Tyson bought $77,184 worth of New Residential Investment, buying 10,000 shares at a cost of $7.72 a piece. Before this latest buy, Tyson made one other purchase in the past year, buying $50,100 shares at a cost of $5.01 each. New Residential Investment is trading off about 1.9% on the day Thursday. So far Tyson is in the green, up about 4.9% on their buy based on today's trading high of $8.10.
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