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 Estee Lauder a filing with the SEC revealed that on Thursday, Director Paul J. Fribourg bought 87,000 shares of EL, at a cost of $65.80 each, for a total investment of $5.72M. So far Fribourg is in the green, up about 6.4% on their buy based on today's trading high of $70.04. Estee Lauder is trading up about 0.9% on the day Tuesday. Before this latest buy, Fribourg purchased EL at 3 other times during the past twelve months, for a total cost of $24.92M at an average of $64.27 per share.
And at Markel Group, there was insider buying on Friday, by Chief Executive Officer Thomas Sinnickson Gayner who bought 100 shares for a cost of $2008.01 each, for a trade totaling $200,801. Before this latest buy, Gayner made one other buy in the past twelve months, purchasing $154,972 shares for a cost of $1549.72 a piece. Markel Group Inc is trading off about 1.7% on the day Tuesday. Investors can buy MKL at a price even lower than Gayner did, with the stock changing hands as low as $1954.90 in trading on Tuesday which is 2.6% under Gayner's purchase price.
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