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 Intevac (NASDAQ:IVAC), a filing with the SEC revealed that on Tuesday, Director Matthew A. Drapkin purchased 175,000 shares of IVAC, for a cost of $6.09 each, for a total investment of $1.07M. Drapkin was up about 3.5% on the purchase at the high point of today's trading session, with IVAC trading as high as $6.30 at last check today. Intevac is trading up about 1.8% on the day Wednesday. Before this latest buy, Drapkin made one other purchase in the past year, buying $206,996 shares for a cost of $5.33 each.
And on Monday, EVP - Southeast Division Niel L. Poulsen bought $1.01M worth of U.S. Concrete (USCR), buying 18,000 shares at a cost of $56.00 a piece. This buy marks the first one filed by Poulsen in the past year. U.S. Concrete is trading up about 3% on the day Wednesday. Bargain hunters are able to bag USCR even cheaper than Poulsen did, with the stock trading as low as $54.61 at last check today -- that's 2.5% below Poulsen's purchase price.
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