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 Wednesday, Continental Resources (NYSE:CLR)'s COO, Winston F. Bott, made a $151,927 buy of CLR, purchasing 1,500 shares at a cost of $101.28 a piece. Bott was up about 3.1% on the buy at the high point of today's trading session, with CLR trading as high as $104.45 at last check today. Before this latest buy, Bott made one other purchase in the past twelve months, buying $128,392 shares for a cost of $85.59 each.
And also on Wednesday, Director Keith Smith bought $150,900 worth of SkyWest (NASDAQ:SKYW), buying 10,000 shares at a cost of $15.09 a piece. This purchase marks the first one filed by Smith in the past year. SkyWest is trading up about 1.5% on the day Thursday.
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