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.
On Wednesday, Banc Of California's , James Andrew Barker, made a $800,830 purchase of BANC, buying 48,435 shares at a cost of $16.53 each. So far Barker is in the green, up about 4.2% on their buy based on today's trading high of $17.23. Banc Of California is trading off about 0.3% on the day Monday. Before this latest buy, Barker made one other buy in the past year, purchasing $249,187 shares for a cost of $19.32 a piece.
And on Friday, CEO John G. Morikis purchased $500,327 worth of Sherwin-Williams, purchasing 2,207 shares at a cost of $226.70 a piece. Before this latest buy, Morikis made one other buy in the past twelve months, purchasing $519,100 shares for a cost of $259.55 a piece. Sherwin-Williams is trading up about 1.1% on the day Monday. So far Morikis is in the green, up about 2.4% on their purchase based on today's trading high of $232.08.
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