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, NII Holdings Inc. (NIHD)'s President, Sergio Chaia, made a $815,056 purchase of NIHD, buying 38,770 shares at a cost of $21.02 a piece. Bargain hunters can bag NIHD even cheaper than Chaia did, with shares trading as low as $20.10 at last check today -- that's 4.4% below Chaia's purchase price. NII Holdings Inc. is trading up about 4.1% on the day Tuesday. This buy marks the first one filed by Chaia in the past year.
And also on Friday, CEO and President John C. Miller bought $339,010 worth of Denny's Corp (NASDAQ:DENN), buying 100,000 shares at a cost of $3.39 a piece. This buy marks the first one filed by Miller in the past twelve months. No other insiders have filed buys of DENN in the past twelve months. Denny's Corp is trading up about 4.6% on the day Tuesday.
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