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 Tuesday, Lakeland Financial's Director, M. Scott Welch, made a $307,000 buy of LKFN, purchasing 5,000 shares at a cost of $61.40 each. Lakeland Financial is trading up about 0.9% on the day Wednesday. This buy marks the first one filed by Welch in the past year.
And at Palmer Square Capital BDC, there was insider buying on Tuesday, by President Matthew L. Bloomfield who purchased 17,450 shares for a cost of $15.22 each, for a trade totaling $265,648. Before this latest buy, Bloomfield made one other purchase in the past twelve months, buying $203,216 shares at a cost of $15.40 a piece. Palmer Square Capital BDC is trading up about 2.4% on the day Wednesday.
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