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. (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 (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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