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 Monday, National General Holdings' President, Robert Karfunkel, made a $464,346 purchase of NGHC, buying 20,000 shares at a cost of $23.22 a piece. National General Holdings is trading up about 2.5% on the day Wednesday. This purchase marks the first one filed by Karfunkel in the past year.
And at Fidelity Southern, there was insider buying on Monday, by Director Rankin M. Smith Jr. who purchased 15,000 shares at a cost of $25.25 each, for a trade totaling $378,746. Fidelity Southern is trading up about 1.1% on the day Wednesday.
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