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, Unifi)'s , Kenneth G. Langone, made a $224,515 purchase of UFI, buying 5,949 shares at a cost of $37.74 a piece. Investors can bag UFI at a price even lower than Langone did, with the stock changing hands as low as $36.24 at last check today which is 4.0% under Langone's purchase price. Unifi is trading down about 1.2% on the day Friday. Before this latest buy, Langone made one other purchase in the past year, buying $701,500 shares at a cost of $28.06 each.
And at Gaming & Leisure Properties, there was insider buying on Monday, by E. Scott Urdang who bought 5,000 shares at a cost of $36.23 each, for a total investment of $181,150. Before this latest buy, Urdang made one other purchase in the past twelve months, buying $483,200 shares for a cost of $30.20 a piece. Gaming & Leisure Properties is trading up about 0.7% on the day Friday.
For MarketNewsVideo.com, I'm Sayoko Murase.