Thursday 2/11 Insider Buying Report: TPX, PAA Thursday, February 11, 10:35 AM 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.
At Tempur Sealy International (TPX), a filing with the SEC revealed that on Wednesday, Director Usman Nabi bought 925,000 shares of TPX, at a cost of $52.92 each, for a total investment of $48.95M. Nabi was up about 3.3% on the buy at the high point of today's trading session, with TPX trading as high as $54.65 at last check today. Tempur Sealy International is trading off about 0.5% on the day Thursday. This purchase marks the first one filed by Nabi in the past year.
And also on Wednesday, CEO Greg L. Armstrong purchased $2.54M worth of Plains All American Pipeline, L.P. (PAA), purchasing 158,066 shares at a cost of $16.06 each. Before this latest buy, Armstrong made one other purchase in the past twelve months, buying $729,264 shares at a cost of $36.46 a piece. Plains All American Pipeline, L.P. is trading off about 1% on the day Thursday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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