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 Thursday, Chemtura Corp (CHMT)'s Director, Alan S. Cooper, made a $3.96M purchase of CHMT, buying 220,000 shares at a cost of $17.98 each. Cooper was up about 7.3% on the purchase at the high point of today's trading session, with CHMT trading as high as $19.29 at last check today. Chemtura Corp is trading up about 6.1% on the day Friday. Before this latest buy, Cooper bought CHMT at 2 other times during the past year, for a total cost of $621,358 at an average of $15.53 per share.
And also on Thursday, Director Robert L. Boughner purchased $394,929 worth of Southwest Gas Corporation (NYSE:SWX), purchasing 10,000 shares at a cost of $39.49 each. This buy marks the first one filed by Boughner in the past twelve months. Southwest Gas Corporation is trading up about 0.7% on the day Friday.
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