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 Dollar Tree, a filing with the SEC revealed that on Monday, Director Lemuel E. Lewis purchased 1,000 shares of DLTR, at a cost of $112.00 each, for a total investment of $112,000. Investors have the opportunity to snag DLTR at a price even lower than Lewis did, with the stock changing hands as low as $109.94 at last check today -- that's 1.8% under Lewis's purchase price. Dollar Tree is trading up about 0.9% on the day Wednesday. Before this latest buy, Lewis made one other purchase in the past year, buying $37,632 shares at a cost of $75.26 a piece.
And at Griffon, there was insider buying on Friday, by Director Henry A. Alpert who bought 5,000 shares at a cost of $20.02 each, for a total investment of $100,100. Griffon is trading up about 2.3% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.