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 Redfin, a filing with the SEC revealed that on Wednesday, Director James Slavet purchased 6,667 shares of RDFN, for a cost of $7.47 each, for a total investment of $49,806. So far Slavet is in the green, up about 43.2% on their buy based on today's trading high of $10.70. Redfin is trading up about 18.5% on the day Thursday. Before this latest buy, Slavet bought RDFN at 5 other times during the past twelve months, for a total cost of $978,852 at an average of $7.73 per share.
And at WesBanco, there was insider buying on Monday, by Director Kerry M. Stemler who bought 1,000 shares for a cost of $36.16 each, for a total investment of $36,162. Before this latest buy, Stemler made one other purchase in the past twelve months, buying $66,662 shares at a cost of $32.84 each. WesBanco is trading up about 0.7% on the day Thursday. So far Stemler is in the green, up about 5.0% on their purchase based on today's trading high of $37.97.
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