Monday 11/5 Insider Buying Report: LM, TBBK Monday, November 5, 3:19 PM ET
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, Legg Mason, Inc. (LM)'s Director, W. Allen Reed, made a $510,900 purchase of LM, buying 20,000 shares at a cost of $25.55 a piece.  Bargain hunters can bag LM even cheaper than Reed did, with shares changing hands as low as $24.75 at last check today -- that's 3.1% below Reed's purchase price.  Legg Mason, Inc. is trading up about 0.4% on the day Monday.  This purchase marks the first one filed by Reed in the past twelve months.
And at The Bancorp, Inc. (TBBK), there was insider buying on Thursday, by Chief Executive Officer Betsy Z. Cohen who purchased 10,000 shares at a cost of $11.73 each, for a total investment of $117,349.  Before this latest buy, Cohen made one other buy in the past year, purchasing $90,984 shares for a cost of $9.10 a piece.  The Bancorp, Inc. is trading up about 0.8% on the day Monday.  So far Cohen is in the green, up about 8.5% on their buy based on today's trading high of $12.73.
For MarketNewsVideo.com, I'm Sayoko Murase.
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