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 Timkensteel, a filing with the SEC revealed that on Tuesday, Director Ronald A. Rice bought 10,000 shares of TMST, at a cost of $21.35 each, for a total investment of $213,500. So far Rice is in the green, up about 6.8% on their purchase based on today's trading high of $22.81. Timkensteel is trading up about 8.6% on the day Wednesday. Before this latest buy, Rice made one other buy in the past twelve months, purchasing $55,641 shares at a cost of $11.13 a piece.
And on Monday, Director Jerome B. Zeldis purchased $200,000 worth of Alliqua BioMedical, purchasing 400,000 shares at a cost of $0.50 a piece. This buy marks the first one filed by Zeldis in the past twelve months. Alliqua BioMedical is trading up about 7% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.