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 Thursday, US Silica Holdings (NYSE:SLCA)'s Director, Daniel W. Avramovich, made a $501,900 buy of SLCA, purchasing 10,000 shares at a cost of $50.19 each. So far Avramovich is in the green, up about 2.6% on their purchase based on today's trading high of $51.49. US Silica Holdings is trading up about 0.6% on the day Friday.
And on Tuesday, Director Terrence P. Dunn bought $167,500 worth of MGP Ingredients (NASDAQ:MGPI), buying 25,000 shares at a cost of $6.70 a piece. MGP Ingredients is trading up about 3.6% on the day Friday. So far Dunn is in the green, up about 8.2% on their buy based on today's trading high of $7.25.
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