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 Friday, Prudential Global Short Duration High Yield Fund ( GHY )'s S.V.P. of Subadviser, James Joseph Sullivan, made a $496,805 buy of GHY, purchasing 30,300 shares at a cost of $16.40 a piece. Prudential Global Short Duration High Yield Fund is trading down about 0.3% on the day Tuesday.
And at Penske Automotive Group ( PAG ), there was insider buying on Friday, by Director Sandra E. Pierce who purchased 3,850 shares at a cost of $44.99 each, for a total investment of $173,222. This purchase marks the first one filed by Pierce in the past twelve months. Penske Automotive Group is trading up about 0.2% on the day Tuesday.
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