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 FelCor Lodging Trust, Inc. (NYSE:FCH), a filing with the SEC revealed that on Monday, CEO Richard Allen Smith purchased 100,000 shares of FCH, at a cost of $3.94 each, for a total investment of $394,000. Smith was up about 12.9% on the purchase at the high point of today's trading session, with FCH trading as high as $4.45 at last check today. FelCor Lodging Trust, Inc. is trading up about 0.2% on the day Thursday. Before this latest buy, Smith purchased FCH at 5 other times during the past year, for a total investment of $1.23M at an average of $4.54 per share.
And at Sandridge Energy, Inc. (NYSE:SD), there was insider buying on Monday, by Director Roy T. Oliver Jr. who purchased 50,000 shares for a cost of $5.80 each, for a trade totaling $290,000. Before this latest buy, Oliver Jr. purchased SD on 2 other occasions during the past year, for a total investment of $1.29M at an average of $6.46 per share. Sandridge Energy, Inc. is trading up about 1.7% on the day Thursday. Oliver Jr. was up about 13.4% on the buy at the high point of today's trading session, with SD trading as high as $6.58 in trading on Thursday.
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