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 Nike, a filing with the SEC revealed that on Monday, Director Robert Holmes Swan purchased 13,072 shares of NKE, at a cost of $96.13 each, for a total investment of $1.26M. Investors can snag NKE even cheaper than Swan did, with shares trading as low as $95.18 in trading on Wednesday which is 1.0% below Swan's purchase price. Nike is trading up about 0.1% on the day Wednesday.
And on Tuesday, Chief Executive Officer Robert E. Cauley bought $235,700 worth of Orchid Island Capital, buying 30,000 shares at a cost of $7.86 a piece. This purchase marks the first one filed by Cauley in the past twelve months. Orchid Island Capital is trading up about 0.6% on the day Wednesday.
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