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 Tuesday, Nabors Industries Ltd. (NYSE:NBR)'s Director, James R. Crane, made a $1.01M buy of NBR, purchasing 58,000 shares at a cost of $17.34 each. Bargain hunters have the opportunity to snag NBR even cheaper than Crane did, with the stock trading as low as $15.81 at last check today which is 8.8% under Crane's purchase price. Nabors Industries Ltd. is trading down about 2.3% on the day Friday. This purchase marks the first one filed by Crane in the past twelve months.
And at Oshkosh Corp (NYSE:OSK), there was insider buying on Thursday, by CEO Charles L. Szews who bought 15,000 shares at a cost of $23.55 each, for a trade totaling $353,325. This buy marks the first one filed by Szews in the past twelve months. Oshkosh Corp is trading off about 1.4% on the day Friday. Bargain hunters have the opportunity to buy OSK even cheaper than Szews did, with the stock changing hands as low as $22.94 at last check today -- that's 2.6% under Szews's purchase price.
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