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 York Water, a filing with the SEC revealed that on Tuesday, CEO & President Joseph Thomas Hand bought 249 shares of YORW, at a cost of $44.27 each, for a total investment of $11,027. So far Hand is in the green, up about 4.2% on their purchase based on today's trading high of $46.15. York Water is trading trading flat on the day Thursday. Before this latest buy, Hand purchased YORW at 5 other times during the past year, for a total cost of $35,842 at an average of $42.84 per share.
And at New York City Reit, there was insider buying on Wednesday, by CEO Edward M. Weil Jr. who purchased 300 shares for a cost of $9.94 each, for a total investment of $2,980. Before this latest buy, Weil Jr. purchased NYC at 8 other times during the past twelve months, for a total cost of $58,154 at an average of $12.35 per share. New York City Reit is trading up about 4.2% on the day Thursday.
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