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 Pennymac Mortgage Investment Trust, a filing with the SEC revealed that on Friday, Director Catherine A. Lynch bought 5,000 shares of PMT, for a cost of $12.39 each, for a total investment of $61,942. So far Lynch is in the green, up about 5.5% on their purchase based on today’s trading high of $13.07. Pennymac Mortgage Investment Trust is trading up about 1.5% on the day Wednesday. This purchase marks the first one filed by Lynch in the past twelve months.

And at Simon Property Group there was insider buying on Friday, by Larry C. Glasscock who bought 335 shares at a cost of $116.42 each, for a total investment of $39,001. Before this latest buy, Glasscock purchased SPG at 3 other times during the past twelve months, for a total cost of $104,042 at an average of $101.11 per share. Simon Property Group is trading up about 2.1% on the day Wednesday. Glasscock was up about 3.3% on the buy at the high point of today’s trading session, with SPG trading as high as $120.31 in trading on Wednesday.

VIDEO: Wednesday 1/4 Insider Buying Report: PMT, SPG

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source: Nasdaq


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