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 Tuesday, Orthofix International (NASDAQ:OFIX)'s Chief Financial Officer, Mark A. Heggestad, made a $455,454 purchase of OFIX, buying 13,696 shares at a cost of $33.25 each. Orthofix International is trading up about 2.1% on the day Thursday. This purchase marks the first one filed by Heggestad in the past year.
And on Wednesday, Director Robert C. Knapp bought $298,169 worth of MVC Capital (NYSE:MVC), buying 24,008 shares at a cost of $12.42 a piece. Before this latest buy, Knapp purchased MVC at 7 other times during the past year, for a total cost of $1.99M at an average of $13.89 per share. MVC Capital is trading up about 0.2% on the day Thursday.
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