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 Friday, Assurant's Director, J. Braxton Carter II, made a $249,210 purchase of AIZ, buying 1,950 shares at a cost of $127.80 a piece. Carter II was up about 5.6% on the purchase at the high point of today's trading session, with AIZ trading as high as $134.96 at last check today. Assurant is trading off about 2.1% on the day Wednesday. This buy marks the first one filed by Carter II in the past year.
And at Corcept Therapeutics, there was insider buying on Friday, by Director G. Leonard Baker Jr. who purchased 13,500 shares at a cost of $17.98 each, for a trade totaling $242,665. Before this latest buy, Baker Jr. made one other purchase in the past year, buying $577,738 shares at a cost of $12.49 each. Corcept Therapeutics is trading up about 2.6% on the day Wednesday. Baker Jr. was up about 7.9% on the buy at the high point of today's trading session, with CORT trading as high as $19.39 at last check today.
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