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 (NASDAQ: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.
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.