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, Pimco Income Opportunity Fund (NYSE:PKO)'s , Daniel J. Ivascyn, made a $441,941 buy of PKO, purchasing 16,797 shares at a cost of $26.31 each. Pimco Income Opportunity Fund is trading up about 0.3% on the day Monday. This purchase marks the first one filed by Ivascyn in the past twelve months.
And on Friday, Director George L. Seward purchased $147,352 worth of Synergy Resources Corp (SYRG), purchasing 45,000 shares at a cost of $3.27 a piece. Synergy Resources Corp is trading up about 1.3% on the day Monday. Investors can pick up SYRG even cheaper than Seward did, with shares changing hands as low as $3.17 at last check today which is 3.2% below Seward's purchase price.
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