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, Mannatech (NASDAQ:MTEX)'s Director, Robert Toth, made a $63,048 buy of MTEX, purchasing 5,000 shares at a cost of $12.61 each. Bargain hunters have the opportunity to snag MTEX even cheaper than Toth did, with the stock trading as low as $11.51 at last check today which is 8.7% below Toth's purchase price. Mannatech is trading down about 2.5% on the day Wednesday. Before this latest buy, Toth purchased MTEX on 5 other occasions during the past year, for a total investment of $420,122 at an average of $16.80 per share.
And at RCS Capital Corporation (NYSE:RCAP), there was insider buying on Friday, by Edward M. Weil Jr. who purchased 2,457 shares for a cost of $20.61 each, for a total investment of $50,649. Before this latest buy, Weil Jr. made one other buy in the past twelve months, purchasing $15,837 shares for a cost of $15.84 each. RCS Capital is trading up about 1.7% on the day Wednesday. So far Weil Jr. is in the green, up about 11.1% on their purchase based on today's trading high of $22.90.
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