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 Monday, Kelly Services' Director, Donald R. Parfet, made a $201,720 buy of KELYA, purchasing 11,000 shares at a cost of $18.34 each. Investors can buy KELYA even cheaper than Parfet did, with the stock changing hands as low as $17.64 in trading on Wednesday which is 3.8% under Parfet's purchase price. Kelly Services is trading down about 1.3% on the day Wednesday. Before this latest buy, Parfet made one other purchase in the past twelve months, buying $247,969 shares for a cost of $17.71 each.
And at Eli Lilly, there was insider buying on Friday, by Director Jackson P. Tai who purchased 656 shares at a cost of $304.19 each, for a total investment of $199,549. Eli Lilly is trading up about 3.1% on the day Wednesday. Tai was up about 5.4% on the buy at the high point of today's trading session, with LLY trading as high as $320.60 in trading on Wednesday.
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