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, Ares Capital (NASDAQ:ARCC)'s Chief Executive Officer, Michael J. Arougheti, made a $830,000 buy of ARCC, purchasing 50,000 shares at a cost of $16.60 each. Ares Capital is trading up about 2.6% on the day Wednesday. This buy marks the first one filed by Arougheti in the past twelve months.
And on Tuesday, Director Matthew A. Drapkin purchased $734,619 worth of Intevac (NASDAQ:IVAC), purchasing 107,801 shares at a cost of $6.81 a piece. Intevac is trading up about 0.7% on the day Wednesday.
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