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, Chiquita Brands International, Inc. (NYSE:CQB)'s CEO, Edward F. Lonergan, made a $367,284 buy of CQB, purchasing 50,800 shares at a cost of $7.23 each. Lonergan was up about 10.2% on the buy at the high point of today's trading session, with CQB trading as high as $7.96 at last check today. Chiquita Brands International, Inc. is trading up about 7% on the day Tuesday.
And on Thursday, James R. Gillis purchased $108,000 worth of Park City Group Inc (AMEX:PCYG), purchasing 30,000 shares at a cost of $3.60 a piece. This buy marks the first one filed by Gillis in the past twelve months. Park City Group Inc is trading up about 1.1% on the day Tuesday. Gillis was up about 1.7% on the purchase at the high point of today's trading session, with PCYG trading as high as $3.66 in trading on Tuesday.
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