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 Aegion, a filing with the SEC revealed that on Wednesday, Director Walter J. Galvin purchased 50,000 shares of AEGN, at a cost of $16.26 each, for a total investment of $813,000. Aegion is trading off about 1.2% on the day Thursday. This buy marks the first one filed by Galvin in the past year.
And on Tuesday, CEO Jay C. Horgen purchased $339,500 worth of Affiliated Managers Group, purchasing 5,000 shares at a cost of $67.90 a piece. Before this latest buy, Horgen bought AMG at 3 other times during the past year, for a total cost of $1.96M at an average of $65.17 per share. Affiliated Managers Group is trading down about 1.2% on the day Thursday. Horgen was up about 6.3% on the buy at the high point of today's trading session, with AMG trading as high as $72.17 at last check today.
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