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 Nike a filing with the SEC revealed that on Thursday, Director John C. Lechleiter bought 1,000 shares of NKE, for a cost of $60.18 each, for a total investment of $60,180. Investors have the opportunity to snag NKE even cheaper than Lechleiter did, with shares trading as low as $59.27 in trading on Tuesday -- that's 1.5% below Lechleiter's purchase price. Nike is trading up about 0.6% on the day Tuesday.
And also on Thursday, CEO and President Michael L. Falcone bought $23,948 worth of MMA Capital Management, buying 1,500 shares at a cost of $15.97 each. Before this latest buy, Falcone bought MMAC on 21 other occasions during the past twelve months, for a total investment of $460,332 at an average of $13.26 per share. MMA Capital Management is trading trading flat on the day Tuesday. Bargain hunters can bag MMAC even cheaper than Falcone did, with the stock changing hands as low as $15.78 at last check today -- that's 1.2% below Falcone's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.