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 Sohu.com (SOHU), a filing with the SEC revealed that on Friday, Chief Operating Officer Xin Wang purchased 60,000 shares of SOHU, at a cost of $49.43 each, for a total investment of $2.97M. So far Wang is in the green, up about 7.7% on their buy based on today's trading high of $53.23. Sohu.com Inc is trading up about 5.1% on the day Monday.
And on Thursday, Director Rick Alden purchased $250,577 worth of Skullcandy (SKUL), purchasing 17,400 shares at a cost of $14.40 each. This purchase marks the first one filed by Alden in the past year. Skullcandy Inc is trading up about 3.9% on the day Monday. Alden was up about 5.5% on the purchase at the high point of today's trading session, with SKUL trading as high as $15.19 at last check today.
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