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 Saturday, Sevcon (SEV)'s Director, Ryan J. Morris, made a $258,712 buy of SEV, purchasing 22,188 shares at a cost of $11.66 each. So far Morris is in the green, up about 2.1% on their buy based on today's trading high of $11.91. Sevcon is trading down about 2.3% on the day Wednesday.
And at Stone Energy (NYSE:SGY), there was insider buying on Tuesday, by Director Phyllis M. Taylor who bought 7,000 shares for a cost of $34.51 each, for a total investment of $241,594. Stone Energy is trading up about 1.2% on the day Wednesday.
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