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 Franklin Street Properties, a filing with the SEC revealed that on Wednesday, Dennis J. McGillicuddy purchased 67,700 shares of FSP, at a cost of $4.52 each, for a total investment of $305,799. Franklin Street Properties Corp is trading down about 7.2% on the day Friday. This buy marks the first one filed by McGillicuddy in the past twelve months.
And at Comfort Systems USA, there was insider buying on Wednesday, by Director Franklin Myers who purchased 3,500 shares for a cost of $49.97 each, for a total investment of $174,878. Before this latest buy, Myers bought FIX on 3 other occasions during the past year, for a total cost of $472,152 at an average of $42.92 per share. Comfort Systems USA is trading off about 0.1% on the day Friday. So far Myers is in the green, up about 3.1% on their buy based on today's trading high of $51.49.
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