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 Consumer Portfolio Service (NASDAQ:CPSS), a filing with the SEC revealed that on Wednesday, Director Greg Washer purchased 9,524 shares of CPSS, for a cost of $6.88 each, for a total investment of $65,489. Washer was up about 2.8% on the purchase at the high point of today's trading session, with CPSS trading as high as $7.07 in trading on Friday. Consumer Portfolio Service is trading up about 0.6% on the day Friday. Before this latest buy, Washer bought CPSS at 3 other times during the past twelve months, for a total cost of $692,203 at an average of $6.87 per share.
And at TCW Strategic Income Fund (NYSE:TSI), there was insider buying on Wednesday, by Director Victoria B. Rogers who bought 9,200 shares at a cost of $5.45 each, for a total investment of $50,140. TCW Strategic Income Fund is trading off about 0.4% on the day Friday.
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