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 Friday, S&W Seed (NASDAQ:SANW)'s Director, Grover T. Wickersham, made a $1.03M purchase of SANW, buying 150,000 shares at a cost of $6.87 a piece. So far Wickersham is in the green, up about 7.6% on their buy based on today's trading high of $7.39. S&W Seed is trading up about 0.4% on the day Wednesday. Before this latest buy, Wickersham bought SANW on 3 other occasions during the past twelve months, for a total cost of $1.29M at an average of $6.12 per share.
And also on Friday, EVP, Company Group Chairman Laizer Kornwasser purchased $334,859 worth of Valeant Pharmaceuticals International (NYSE:VRX), purchasing 2,481 shares at a cost of $134.97 a piece. Before this latest buy, Kornwasser bought VRX on 4 other occasions during the past year, for a total investment of $1.16M at an average of $110.22 per share. Valeant Pharmaceuticals International is trading up about 1.1% on the day Wednesday. Investors can snag VRX even cheaper than Kornwasser did, with the stock trading as low as $131.28 at last check today -- that's 2.7% under Kornwasser's purchase price.
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