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 Monday, Southern National Bancorp of Virginia (NASDAQ:SONA)'s Chairman of the Board, Georgia S. Derrico, made a $284,517 buy of SONA, purchasing 31,300 shares at a cost of $9.09 each. Derrico was up about 28.7% on the buy at the high point of today's trading session, with SONA trading as high as $11.70 at last check today. Southern National Bancorp of Virginia is trading up about 0.9% on the day Wednesday. Before this latest buy, Derrico bought SONA on 5 other occasions during the past year, for a total investment of $243,659 at an average of $9.21 per share.
And at Civeo Corporation (NYSE:CVEO), there was insider buying on Tuesday, by Director Gary L. Rosenthal who bought 8,000 shares for a cost of $12.21 each, for a total investment of $97,680. Civeo Corporation is trading up about 6.2% on the day Wednesday.
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