updated Friday, November 12, 10:51 AM
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 MoneyGram International, a filing with the SEC revealed that on Thursday, Director W. Bruce Turner bought 269,600 shares of MGI, for a cost of $5.65 each, for a total investment of $1.52M. So far Turner is in the green, up about 9.9% on their purchase based on today's trading high of $6.21. MoneyGram International is trading up about 10.6% on the day Friday. This purchase marks the first one filed by Turner in the past twelve months.
And on Tuesday, COO Ronald J. Lewis purchased $912,625 worth of Ball, purchasing 10,000 shares at a cost of $91.26 each. This purchase marks the first one filed by Lewis in the past year. Ball is trading up about 2% on the day Friday. Lewis was up about 2.8% on the buy at the high point of today's trading session, with BLL trading as high as $93.81 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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