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, Air Products & Chemicals's CEO, Seifi Ghasemi, made a $3.20M purchase of APD, buying 20,000 shares at a cost of $160.11 a piece. Investors have the opportunity to pick up APD at a price even lower than Ghasemi did, with shares changing hands as low as $157.88 at last check today — that's 1.4% below Ghasemi's purchase price. Air Products & Chemicals is trading up about 1.2% on the day Tuesday.
And at Party City Holdco, there was insider buying on Monday, by Chief Executive Officer James M. Harrison who purchased 50,000 shares for a cost of $10.09 each, for a total investment of $504,500. Before this latest buy, Harrison made one other purchase in the past year, buying $225,400 shares for a cost of $11.27 a piece. Party City Holdco is trading up about 3.8% on the day Tuesday. Harrison was up about 11.1% on the purchase at the high point of today's trading session, with PRTY trading as high as $11.21 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.