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 Affiliated Managers Group, a filing with the SEC revealed that on Tuesday, CEO Jay C. Horgen bought 4,000 shares of AMG, at a cost of $136.23 each, for a total investment of $544,920. So far Horgen is in the green, up about 7.4% on their buy based on today's trading high of $146.29. Affiliated Managers Group is trading up about 2.7% on the day Wednesday. Before this latest buy, Horgen purchased AMG on 4 other occasions during the past year, for a total cost of $2.29M at an average of $65.56 per share.
And at Northwest Bancshares, there was insider buying on Tuesday, by Director Timothy M. Hunter who purchased 10,000 shares at a cost of $13.50 each, for a trade totaling $134,970. Before this latest buy, Hunter bought NWBI at 2 other times during the past twelve months, for a total cost of $254,975 at an average of $10.20 per share. Northwest Bancshares is trading up about 0.7% on the day Wednesday. Hunter was up about 2.7% on the purchase at the high point of today's trading session, with NWBI trading as high as $13.86 in trading on Wednesday.
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