Friday 1/30 Insider Buying Report: BK, MSFT
The Online Investor - Fri., Jan. 30, 10:47 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.
On Wednesday, Bank of New York Mellon Corp (BK)'s Director, Edward P. Garden, made a $10M purchase of BK, buying 273,000 shares at a cost of $36.63 a piece. Bargain hunters have the opportunity to snag BK at a price even lower than Garden did, with shares trading as low as $35.94 at last check today -- that's 1.9% below Garden's purchase price. Bank of New York Mellon Corp is trading off about 0.7% on the day Friday.