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 Barnes Group, a filing with the SEC revealed that on Thursday, CEO Thomas J. Hook bought 125,000 shares of B, at a cost of $20.98 each, for a total investment of $2.62M. Hook was up about 11.7% on the purchase at the high point of today's trading session, with B trading as high as $23.42 at last check today. Barnes Group is trading up about 8.5% on the day Friday. Before this latest buy, Hook made one other buy in the past year, purchasing $1.33M shares for a cost of $38.09 each.
And on Wednesday, Director William Reid Sanders bought $254,647 worth of Mid-America Apartment Communities, buying 2,200 shares at a cost of $115.75 a piece. Before this latest buy, Sanders bought MAA at 3 other times during the past twelve months, for a total cost of $874,973 at an average of $145.83 per share. Mid-America Apartment Communities is trading up about 3.2% on the day Friday. So far Sanders is in the green, up about 7.9% on their buy based on today's trading high of $124.88.
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