Monday 12/9 Insider Buying Report: TPRE, CAS
The Online Investor - 18 hours, 7 minutes ago
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 Third Point Reinsurance (TPRE), a filing with the SEC revealed that on Thursday, Director Neil McConachie bought 25,500 shares of TPRE, for a cost of $17.17 each, for a total investment of $437,835. So far McConachie is in the green, up about 4.0% on their buy based on today's trading high of $17.85.
And at A.M. Castle (CAS), there was insider buying on Friday, by CEO Scott J. Dolan who purchased 14,900 shares at a cost of $13.73 each, for a trade totaling $204,577. Before this latest buy, Dolan purchased CAS on 4 other occasions during the past twelve months, for a total investment of $368,414 at an average of $16.05 per share. A.M. Castle is trading up about 3.7% on the day Monday.