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 Liquidity Services (NASDAQ:LQDT), a filing with the SEC revealed that on Tuesday, Director Jaime Mateus-Tique bought 30,000 shares of LQDT, for a cost of $24.68 each, for a total investment of $740,443. So far Mateus-Tique is in the green, up about 6.5% on their buy based on today's trading high of $26.29.
And also on Tuesday, Director Jaynie M. Studenmund purchased $231,600 worth of Pinnacle Entertainment (NASDAQ:PNK), purchasing 10,000 shares at a cost of $23.16 each. Pinnacle Entertainment is trading down about 0.5% on the day Wednesday.
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