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 (NASDAQ: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.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.