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, Spectrum Brands Holdings' CEO, David M. Maura, made a $723,150 buy of SPB, purchasing 10,000 shares at a cost of $72.31 each. So far Maura is in the green, up about 2.9% on their purchase based on today's trading high of $74.40. Spectrum Brands Holdings is trading up about 1.5% on the day Thursday.
And also on Tuesday, Director Peter I. Tumminello bought $236,750 worth of DT Midstream, buying 5,000 shares at a cost of $47.35 a piece. Before this latest buy, Tumminello made one other buy in the past twelve months, purchasing $164,400 shares at a cost of $54.80 each. DT Midstream is trading up about 0.2% on the day Thursday. Bargain hunters are able to bag DTM at a price even lower than Tumminello did, with shares changing hands as low as $46.27 at last check today -- that's 2.3% below Tumminello's purchase price.
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