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 Exa Corp (NASDAQ:EXA), a filing with the SEC revealed that on Thursday, Director Wayne D. Mackie purchased 20,000 shares of EXA, for a cost of $10.00 each, for a total investment of $200,000. So far Mackie is in the green, up about 6.5% on their buy based on today's trading high of $10.65. Exa Corp is trading up about 0.1% on the day Tuesday. This buy marks the first one filed by Mackie in the past twelve months.
And at Laredo Petroleum Holdings Inc (NYSE:LPI), there was insider buying on Friday, by Director Myles W. Scoggins who bought 5,000 shares at a cost of $20.75 each, for a trade totaling $103,750. This buy marks the first one filed by Scoggins in the past year. Laredo Petroleum Holdings Inc is trading up about 3.1% on the day Tuesday. So far Scoggins is in the green, up about 6.0% on their purchase based on today's trading high of $22.00.
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