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 Westlake Chemical Partners, a filing with the SEC revealed that on Monday, SVP, Olefin Material, Andrew Kenner purchased 10,000 shares of WLKP, at a cost of $22.02 each, for a total investment of $220,180. Investors can pick up WLKP even cheaper than Kenner did, with the stock changing hands as low as $21.45 in trading on Wednesday -- that's 2.6% below Kenner's purchase price. Westlake Chemical Partners is trading trading flat on the day Wednesday. Before this latest buy, Kenner bought WLKP at 11 other times during the past twelve months, for a total investment of $1.61M at an average of $22.45 per share.
And also on Monday, CEO William H. Lenehan bought $198,450 worth of Four Corners Property Trust, buying 9,000 shares at a cost of $22.05 a piece. Before this latest buy, Lenehan purchased FCPT at 2 other times during the past year, for a total investment of $448,210 at an average of $26.02 per share. Four Corners Property Trust is trading up about 0.7% on the day Wednesday. Bargain hunters can pick up FCPT even cheaper than Lenehan did, with shares trading as low as $21.70 at last check today which is 1.6% below Lenehan's purchase price.
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