Thursday 4/23 Insider Buying Report: NMM, DLPN
Thursday, April 23, 2:51 PM ET

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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 Navios Maritime Partners, a filing with the SEC revealed that on Tuesday, See Remarks Angeliki Frangou bought 3,581 shares of NMM, at a cost of $69.97 each, for a total investment of $250,575. So far Frangou is in the green, up about 1.1% on their purchase based on today's trading high of $70.73. Navios Maritime Partners is trading up about 0.1% on the day Thursday. Before this latest buy, Frangou purchased NMM on 7 other occasions during the past year, for a total investment of $1.68M at an average of $68.37 per share.

And on Monday, Chief Executive Officer William O'dowd IV purchased $4,877 worth of Dolphin Entertainment, purchasing 3,200 shares at a cost of $1.52 each. Before this latest buy, O'dowd IV purchased DLPN on 54 other occasions during the past twelve months, for a total cost of $5.32M at an average of $18.83 per share. Dolphin Entertainment is trading off about 0.7% on the day Thursday. Bargain hunters are able to bag DLPN at a price even lower than O'dowd IV did, with shares trading as low as $1.41 at last check today -- that's 7.5% below O'dowd IV's purchase price.

For MarketNewsVideo.com, I'm Sayoko Murase.