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 Friday, Esterline Technologies Corp (NYSE:ESL)'s VP & Chief Financial Officer, Robert David George, made a $84,420 buy of ESL, purchasing 1,500 shares at a cost of $56.28 a piece. George was up about 2.3% on the purchase at the high point of today's trading session, with ESL trading as high as $57.58 in trading on Tuesday. Esterline Technologies Corp is trading up about 1.5% on the day Tuesday. Before this latest buy, George made one other purchase in the past year, buying $180,845 shares for a cost of $51.67 each.
And on Thursday, Pres. of Natl. Com. Banking Bruce R. Hague bought $63,000 worth of PrivateBancorp, Inc. (NASDAQ:PVTB), buying 4,000 shares at a cost of $15.75 each. PrivateBancorp, Inc. is trading up about 0.8% on the day Tuesday. Hague was up about 8.3% on the buy at the high point of today's trading session, with PVTB trading as high as $17.05 at last check today.
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