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 Friday, Lakeland Financial's Director, Brian J. Smith, made a $510,000 buy of LKFN, purchasing 10,000 shares at a cost of $51.00 each. Lakeland Financial is trading down about 1.5% on the day Monday.
And at Huntington Bancshares, there was insider buying on Wednesday, by Director Kenneth J. Phelan who purchased 20,000 shares at a cost of $10.80 each, for a total investment of $216,000. Huntington Bancshares is trading down about 1.3% on the day Monday. Phelan was up about 4.1% on the purchase at the high point of today's trading session, with HBAN trading as high as $11.24 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.