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.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.