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 Quality Systems, Inc. (NASDAQ:QSII), a filing with the SEC revealed that on Tuesday, Director Russell Pflueger bought 10,000 shares of QSII, at a cost of $16.06 each, for a total investment of $160,600. So far Pflueger is in the green, up about 7.1% on their buy based on today's trading high of $17.20. Quality Systems, Inc. is trading up about 3.2% on the day Wednesday. This buy marks the first one filed by Pflueger in the past twelve months.
And at Libbey Inc. (AMEX:LBY), there was insider buying on Monday, by Director Terence P. Stewart who purchased 6,500 shares at a cost of $15.19 each, for a total investment of $98,754. Libbey Inc. is trading down about 1.7% on the day Wednesday. Investors can bag LBY at a price even lower than Stewart did, with the stock trading as low as $14.14 at last check today -- that's 6.9% below Stewart's purchase price.
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