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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
