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 Citizens Holding Co (CIZN), a filing with the SEC revealed that on Friday, Director Terrell Elton Winstead purchased 5,000 shares of CIZN, at a cost of $20.25 each, for a total investment of $101,250. Bargain hunters are able to bag CIZN at a price even lower than Winstead did, with the stock changing hands as low as $19.30 in trading on Wednesday which is 4.7% under Winstead's purchase price. This purchase marks the first one filed by Winstead in the past twelve months.
And at AVEO Pharmaceuticals, Inc. (AVEO), there was insider buying on Friday, by Director Raju S. Kucherlapati who purchased 5,000 shares for a cost of $13.87 each, for a trade totaling $69,342. Before this latest buy, Kucherlapati made one other buy in the past year, purchasing $216,548 worth of shares for a cost of $14.44 each. AVEO Pharmaceuticals, Inc. is trading trading flat on the day Wednesday. Investors are able to snag AVEO even cheaper than Kucherlapati did, with shares trading as low as $12.99 at last check today -- that's 6.3% below Kucherlapati's purchase price.
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