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, Six Flags Entertainment Corp (NYSE:SIX)'s Director, Arik W. Ruchim, made a $3.81M purchase of SIX, buying 100,000 shares at a cost of $38.07 each. So far Ruchim is in the green, up about 10.7% on their buy based on today's trading high of $42.13. Six Flags Entertainment Corp is trading up about 4.5% on the day Tuesday.
And on Monday, Director Terry Considine bought $2.94M worth of Apartment Investment & Management (NYSE:AIV), buying 450,000 shares at a cost of $6.53 a piece. Before this latest buy, Considine bought AIV on 3 other occasions during the past year, for a total cost of $5.19M at an average of $5.77 per share. Apartment Investment & Management is trading up about 2.1% on the day Tuesday. So far Considine is in the green, up about 3.9% on their buy based on today's trading high of $6.79.
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