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 PIMCO Access Income Fund, a filing with the SEC revealed that on Friday, Thibault Christian Stracke bought 10,000 shares of PAXS, for a cost of $15.58 each, for a total investment of $155,806. Bargain hunters can grab PAXS at a price even lower than Stracke did, with shares changing hands as low as $15.17 at last check today -- that's 2.6% below Stracke's purchase price. PIMCO Access Income Fund is trading up about 0.4% on the day Wednesday. This purchase marks the first one filed by Stracke in the past year.
And also on Friday, Director Noel Joseph Spiegel bought $115,000 worth of American Eagle Outfitters, buying 10,000 shares at a cost of $11.50 each. Before this latest buy, Spiegel bought AEO at 2 other times during the past twelve months, for a total investment of $356,500 at an average of $11.88 per share. American Eagle Outfitters is trading up about 2.6% on the day Wednesday. Spiegel was up about 5.5% on the purchase at the high point of today's trading session, with AEO trading as high as $12.13 at last check today.
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