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, Koppers Holdings (NYSE:KOP)'s Chief Financial Officer, Michael Zugay, made a $354,200 purchase of KOP, buying 10,000 shares at a cost of $35.42 each. So far Zugay is in the green, up about 4.8% on their purchase based on today's trading high of $37.10. Koppers Holdings is trading up about 2% on the day Monday. This buy marks the first one filed by Zugay in the past twelve months.
And at Concho Resources (NYSE:CXO), there was insider buying on Thursday, by John P. Surma who purchased 2,000 shares for a cost of $130.00 each, for a total investment of $260,000. This purchase marks the first one filed by Surma in the past twelve months. Concho Resources is trading up about 2.6% on the day Monday. So far Surma is in the green, up about 4.4% on their purchase based on today's trading high of $135.76.
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