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, Eagle Bancorp Inc (NASDAQ:EGBN)'s Director, Norman Robert Pozez, made a $736,016 buy of EGBN, purchasing 46,001 shares at a cost of $16.00 a piece. Eagle Bancorp Inc is trading up about 0.1% on the day Tuesday. This purchase marks the first one filed by Pozez in the past year.
And at Hornbeck Offshore Services Inc (NYSE:HOS), there was insider buying on Thursday, by Director Nicholas Lew Swyka Jr. who bought 7,250 shares for a cost of $35.09 each, for a total investment of $254,374. This purchase marks the first one filed by Swyka Jr. in the past twelve months. Hornbeck Offshore Services Inc is trading up about 2.6% on the day Tuesday. So far Swyka Jr. is in the green, up about 3.5% on their buy based on today's trading high of $36.30.
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