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 PHX Minerals Inc (NYSE:PHX), a filing with the SEC revealed that on Tuesday, Director Christopher T. Fraser purchased 80,000 shares of PHX, at a cost of $2.00 each, for a total investment of $160,000. PHX Minerals Inc is trading up about 9.4% on the day Tuesday. Before this latest buy, Fraser made one other purchase in the past twelve months, buying $163,000 shares at a cost of $1.63 each.
And at GEE Group Inc (AMEX:JOB), there was insider buying on Monday, by Senior Vice President, CFO Kim D. Thorpe who purchased 83,333 shares for a cost of $0.60 each, for a trade totaling $50,000. This buy marks the first one filed by Thorpe in the past twelve months. GEE Group Inc is trading up about 1.9% on the day Tuesday.
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