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 Thursday, NBT Bancorp's Director, Timothy E. Delaney, made a $409,750 buy of NBTB, purchasing 10,000 shares at a cost of $40.98 a piece. NBT Bancorp is trading up about 0.6% on the day Friday. Before this latest buy, Delaney made one other buy in the past twelve months, purchasing $81,000 shares at a cost of $40.50 a piece.
And at JetBlue Airways, there was insider buying on Tuesday, by Director Peter Boneparth who bought 50,000 shares for a cost of $4.12 each, for a trade totaling $206,000. JetBlue Airways is trading up about 3.2% on the day Friday. Boneparth was up about 6.6% on the purchase at the high point of today's trading session, with JBLU trading as high as $4.39 in trading on Friday.
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