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, Kayne Anderson MLP Investment's President, James C. Baker, made a $376,596 buy of KYN, purchasing 37,547 shares at a cost of $10.03 each. Bargain hunters are able to snag KYN even cheaper than Baker did, with the stock trading as low as $8.38 in trading on Thursday -- that's 16.5% under Baker's purchase price. Kayne Anderson MLP Investment is trading up about 1.3% on the day Thursday. Before this latest buy, Baker made one other buy in the past twelve months, purchasing $83,900 shares for a cost of $8.39 each.
And also on Tuesday, Director Thomas W. Erickson bought $265,000 worth of 3D Systems, buying 50,000 shares at a cost of $5.30 a piece. Before this latest buy, Erickson made one other purchase in the past twelve months, buying $228,400 shares at a cost of $4.57 each. 3D Systems is trading up about 1.9% on the day Thursday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
