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 Friday, Tile Shop Holdings (TTS)'s Director, Peter H. Kamin, made a $4.85M purchase of TTS, buying 3,074,869 shares at a cost of $1.58 a piece. So far Kamin is in the green, up about 20.3% on their buy based on today's trading high of $1.90. Tile Shop Holdings is trading up about 9.2% on the day Monday. Before this latest buy, Kamin purchased TTS at 6 other times during the past twelve months, for a total investment of $2.08M at an average of $4.94 per share.
And on Wednesday, Director Steven B. Klinsky bought $4.70M worth of New Mountain Finance Corp (NMFC), buying 355,000 shares at a cost of $13.25 each. Before this latest buy, Klinsky made one other buy in the past twelve months, purchasing $2.28M shares at a cost of $12.52 a piece. New Mountain Finance Corp is trading up about 0.7% on the day Monday. So far Klinsky is in the green, up about 2.3% on their purchase based on today's trading high of $13.55.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.