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 (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 (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.
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