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 Thursday, Basic Energy Services Inc (NYSE:BAS)'s Director, Thomas Moore Jr., made a $187,440 buy of BAS, purchasing 11,000 shares at a cost of $17.04 each. Moore Jr. was up about 7.9% on the purchase at the high point of today's trading session, with BAS trading as high as $18.39 in trading on Tuesday. Before this latest buy, Moore Jr. made one other purchase in the past twelve months, buying $163,969 shares for a cost of $16.40 a piece.
And on Friday, Director Christopher D. Pappas bought $89,630 worth of FirstEnergy Corp. (NYSE:FE), buying 2,000 shares at a cost of $44.81 each. This buy marks the first one filed by Pappas in the past year. So far Pappas is in the green, up about 0.8% on their buy based on today's trading high of $45.19.
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