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 Beacon Roofing Supply Inc (BECN), a filing with the SEC revealed that on Friday, CEO Paul Isabella purchased 19,600 shares of BECN, for a cost of $25.40 each, for a total investment of $497,805. Beacon Roofing Supply Inc is trading up about 2.1% on the day Wednesday. This purchase marks the first one filed by Isabella in the past twelve months.
And also on Friday, Director Martin Tuchman bought $277,000 worth of SeaCube Container Leasing Ltd (BOX), buying 15,000 shares at a cost of $18.47 a piece. Before this latest buy, Tuchman bought BOX at 5 other times during the past twelve months, for a total cost of $725,655 at an average of $15.78 per share. SeaCube Container Leasing Ltd is trading up about 1.1% on the day Wednesday. Tuchman was up about 1.8% on the buy at the high point of today's trading session, with BOX trading as high as $18.80 in trading on Wednesday.
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