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 Agree Realty (NYSE:ADC), a filing with the SEC revealed that on Thursday, Director John Rakolta Jr. purchased 20,000 shares of ADC, at a cost of $29.80 each, for a total investment of $596,000. Agree Realty is trading up about 0.4% on the day Tuesday. Before this latest buy, Rakolta purchased ADC on 3 other occasions during the past year, for a total cost of $2.08M at an average of $27.47 per share.
And on Friday, CEO Steven P. Guidry purchased $203,112 worth of VAALCO Energy (NYSE:EGY), purchasing 33,600 shares at a cost of $6.04 a piece. VAALCO Energy is trading up about 6.7% on the day Tuesday.
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