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 Wednesday, Basic Energy Services Inc (NYSE:BAS)'s Director, Steven A. Webster, made a $706,995 buy of BAS, purchasing 52,370 shares at a cost of $13.50 a piece. Webster was up about 10.4% on the buy at the high point of today's trading session, with BAS trading as high as $14.91 in trading on Thursday. Basic Energy Services Inc is trading up about 4.7% on the day Thursday. Before this latest buy, Webster purchased BAS on 3 other occasions during the past year, for a total investment of $1.99M at an average of $19.93 per share.
And on Tuesday, Director Douglas H. Brooks bought $39,500 worth of Southwest Airlines Co (NYSE:LUV), buying 5,000 shares at a cost of $7.90 each. This purchase marks the first one filed by Brooks in the past twelve months. Southwest Airlines Co is trading up about 1.4% on the day Thursday. Brooks was up about 2.8% on the purchase at the high point of today's trading session, with LUV trading as high as $8.12 in trading on Thursday.
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