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Thursday 11/8 Insider Buying Report: BRY, IRDM
Thursday, November 8, 5:29 PM ET

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 Berry Petroleum Co (BRY), a filing with the SEC revealed that on Monday, CEO Robert Heinemann bought 10,000 shares of BRY, for a cost of $33.40 each, for a total investment of $333,995. Berry Petroleum Co is trading up about 2.1% on the day Thursday.

And at Iridium Communications Inc (NASDAQ:IRDM), there was insider buying on Tuesday, by Director Robert H. Niehaus who bought 30,000 shares at a cost of $6.45 each, for a trade totaling $193,500. Iridium Communications Inc is trading up about 2.1% on the day Thursday. Bargain hunters have the opportunity to snag IRDM at a price even lower than Niehaus did, with shares trading as low as $6.27 at last check today which is 2.8% below Niehaus's purchase price.

For MarketNewsVideo.com, I'm Sayoko Murase.

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