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 Friday, Southside Bancshares, Inc. (NASDAQ:SBSI)'s Director, Lawrence Lazelle Anderson, made a $52,750 purchase of SBSI, buying 2,500 shares at a cost of $21.10 a piece. Southside Bancshares, Inc. is trading up about 0.3% on the day Monday.
And at Vera Bradley Inc. (NASDAQ:VRA), there was insider buying on Wednesday, by Director Matthew McEvoy who bought 2,000 shares at a cost of $23.92 each, for a trade totaling $47,838. Before this latest buy, McEvoy made one other buy in the past year, purchasing $44,464 shares for a cost of $29.64 each. Vera Bradley Inc. is trading down about 3.6% on the day Monday. Bargain hunters are able to pick up VRA even cheaper than McEvoy did, with shares changing hands as low as $22.47 at last check today -- that's 6.1% under McEvoy's purchase price.
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