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 H&E Equipment Services (NASDAQ:HEES), a filing with the SEC revealed that on Thursday, VP John Jones bought 4,000 shares of HEES, for a cost of $13.08 each, for a total investment of just over $52,000. So far Jones is in the green, up about 4.6% on their buy based on today's trading high of $13.68.
And on Wednesday, CEO Kenneth Arnold Brunk bought nearly $41,000 worth of Midway Gold (AMEX:MDW), buying 26,000 shares at a cost of $1.57 a piece. This buy marks the first one filed by Brunk in the past twelve months. Brunk was up about 12.2% on the purchase at the high point of today's trading session, with MDW trading as high as $1.76 at last check today.
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