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Tuesday 5/15 Insider Buying Report: EVER, SNCR
Tuesday, May 15, 2:56 PM ET

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.

At Everbank Financial Corporation (NYSE:EVER), a filing with the SEC revealed that on Monday, Director Merrick R. Kleeman bought 118,751 shares of EVER, for a cost of $10.66 each, for a total investment of $1.27M. Everbank Financial Corporation is trading up about 1.1% on the day Tuesday. This purchase marks the first one filed by Kleeman in the past year.

And at Synchronoss Technologies Inc (NASDAQ:SNCR), there was insider buying on Monday, by Director William J. Cadogan who bought 25,000 shares for a cost of $20.71 each, for a total investment of $517,657. This purchase marks the first one filed by Cadogan in the past year. Synchronoss Technologies Inc is trading up about 0.9% on the day Tuesday.

For MarketNewsVideo.com, I'm Sayoko Murase.

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