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 Neuberger Berman MLP and Energy Income Fund (NML), a filing with the SEC revealed that on Friday, Douglas A. Rachlin bought 50,000 shares of NML, for a cost of $6.59 each, for a total investment of $329,460. Investors can snag NML even cheaper than Rachlin did, with shares changing hands as low as $6.45 in trading on Tuesday — that's 2.1% below Rachlin's purchase price. Neuberger Berman MLP and Energy Income Fund is trading up about 0.9% on the day Tuesday.
And at Virtu Financial (VIRT), there was insider buying on Thursday, by Chief Executive Officer Douglas A. Cifu who purchased 20,000 shares at a cost of $16.24 each, for a total investment of $324,812. Before this latest buy, Cifu made one other purchase in the past twelve months, buying $185,791 shares at a cost of $18.58 each. Virtu Financial is trading off about 0.6% on the day Tuesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
