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 Wednesday, Intevac (NASDAQ:IVAC)'s Director, Matthew A. Drapkin, made a $575,355 purchase of IVAC, buying 88,502 shares at a cost of $6.50 a piece. Investors have the opportunity to bag IVAC at a price even lower than Drapkin did, with the stock trading as low as $6.13 at last check today which is 5.7% below Drapkin's purchase price. Intevac is trading up about 4.2% on the day Thursday. Before this latest buy, Drapkin bought IVAC on 3 other occasions during the past twelve months, for a total investment of $1.39M at an average of $6.90 per share.
And also on Wednesday, Director Daniel F. Akerson purchased $254,827 worth of Lockheed Martin (NYSE:LMT), purchasing 1,500 shares at a cost of $169.88 each. This purchase marks the first one filed by Akerson in the past year. Lockheed Martin is trading down about 1% on the day Thursday. Bargain hunters have the opportunity to bag LMT even cheaper than Akerson did, with shares trading as low as $168.14 in trading on Thursday which is 1.0% below Akerson's purchase price.
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