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.
At GEO Group (NYSE:GEO), a filing with the SEC revealed that on Friday, CEO George C. Zoley bought 46,901 shares of GEO, at a cost of $33.79 each, for a total investment of $1.58M. So far Zoley is in the green, up about 2.5% on their purchase based on today's trading high of $34.64. GEO Group is trading up about 1.2% on the day Wednesday. This buy marks the first one filed by Zoley in the past year.
And on Monday, Director Brian Gerald John Gray purchased $507,600 worth of RenaissanceRe Holdings (NYSE:RNR), purchasing 5,000 shares at a cost of $101.52 each. RenaissanceRe Holdings is trading up about 1.4% on the day Wednesday. So far Gray is in the green, up about 1.4% on their purchase based on today's trading high of $102.99.
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