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 Enterprise Products Partners ( EPD ), a filing with the SEC revealed that on Wednesday, Director James T. Hackett purchased 125,000 shares of EPD, at a cost of $24.50 each, for a total investment of $3.06M. Enterprise Products Partners is trading off about 0.9% on the day Thursday. Before this latest buy, Hackett made one other buy in the past year, purchasing $2.77M shares for a cost of $27.72 each.
And on Monday, Director Michael J. Angelakis bought $501,840 worth of Hewlett Packard Enterprise ( HPE ), buying 34,000 shares at a cost of $14.76 each. This purchase marks the first one filed by Angelakis in the past twelve months. Hewlett Packard Enterprise is trading up about 0.7% on the day Thursday. So far Angelakis is in the green, up about 3.9% on their buy based on today's trading high of $15.34.
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