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 Independent Bank Group (NASDAQ:IBTX), a filing with the SEC revealed that on Friday, Director G. Stacy Smith bought 11,087 shares of IBTX, at a cost of $34.16 each, for a total investment of $378,699. So far Smith is in the green, up about 10.3% on their purchase based on today's trading high of $37.69. Before this latest buy, Smith purchased IBTX on 5 other occasions during the past year, for a total cost of $2.9M at an average of $27.33 per share.
And also on Friday, Chief Executive Officer Jeff Bradley purchased $129,500 worth of Globe Specialty Metals (NASDAQ:GSM), purchasing 10,000 shares at a cost of $12.95 each. This buy marks the first one filed by Bradley in the past year. Globe Specialty Metals is trading up about 2.2% on the day Tuesday.
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