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 Pzena Investment Management (NYSE:PZN), a filing with the SEC revealed that on Friday, Director Charles D. Johnston bought 10,000 shares of PZN, at a cost of $10.99 each, for a total investment of $109,900. So far Johnston is in the green, up about 2.7% on their buy based on today's trading high of $11.29. Pzena Investment Management is trading up about 1.1% on the day Tuesday. This purchase marks the first one filed by Johnston in the past year.
And on Thursday, Director Ted Collins Jr. bought $106,780 worth of Oasis Petroleum (NYSE:OAS), buying 2,000 shares at a cost of $53.39 a piece. This buy marks the first one filed by Collins Jr. in the past year. Oasis Petroleum is trading off about 0.7% on the day Tuesday. Collins Jr. was up about 5.6% on the buy at the high point of today's trading session, with OAS trading as high as $56.36 in trading on Tuesday.
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