Credit: Shutterstock photoAs 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 Parkway Properties ( PKY ), a filing with the SEC revealed that on Thursday, CEO James R. Heistand purchased 12,500 shares of PKY, for a cost of $17.75 each, for a total investment of $221,875. Parkway Properties is trading off about 0.1% on the day Friday. Before this latest buy, Heistand purchased PKY at 3 other times during the past year, for a total investment of $1.16M at an average of $18.61 per share.
And on Wednesday, Director Ruth G. Shaw bought $200,190 worth of Dow Chemical ( DOW ), buying 4,154 shares at a cost of $48.19 each. This buy marks the first one filed by Shaw in the past year. Dow Chemical is trading up about 0.6% on the day Friday. Shaw was up about 3.4% on the buy at the high point of today's trading session, with DOW trading as high as $49.81 at last check today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
