Wednesday 12/23 Insider Buying Report: EGLE, TURN

Wednesday 12/23 Insider Buying Report: EGLE, TURN

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.

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 Friday, Eagle Bulk Shipping's Chief Executive Officer, Gary Vogel, made a $149,995 buy of EGLE, purchasing 8,287 shares at a cost of $18.10 each.

Vogel was up about 6.2% on the purchase at the high point of today's trading session, with EGLE trading as high as $19.22 in trading on Wednesday.

Eagle Bulk Shipping is trading up about 5.2% on the day Wednesday.

Before this latest buy, Vogel purchased EGLE at 2 other times during the past year, for a total cost of $224,822 at an average of $17.29 per share.

And on Tuesday, CEO Kevin Rendino bought $149,661 worth of 180 Degree Capital, buying 78,769 shares at a cost of $1.90 each.

Before this latest buy, Rendino bought TURN at 20 other times during the past twelve months, for a total investment of $436,095 at an average of $1.72 per share.

180 Degree Capital is trading up about 15% on the day Wednesday.

Rendino was up about 41.6% on the purchase at the high point of today's trading session, with TURN trading as high as $2.69 at last check today.