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 Tuesday, LKQ's Director, William Webster, made a $189,000 buy of LKQ, purchasing 10,000 shares at a cost of $18.90 a piece. LKQ is trading up about 0.9% on the day Friday. Before this latest buy, Webster bought LKQ on 2 other occasions during the past twelve months, for a total investment of $348,000 at an average of $17.40 per share.
And at Vitran (NASDAQ:VTNC), there was insider buying on Wednesday, by CEO Rick Gaetz who bought 13,683 shares for a cost of $4.90 each, for a trade totaling just over $67,000. This buy marks the first one filed by Gaetz in the past twelve months. Vitran is trading up about 1.6% on the day Friday.
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