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 Avid Technology (AVID), a filing with the SEC revealed that on Wednesday, Director Robert M. Bakish purchased 50,000 shares of AVID, for a cost of $16.97 each, for a total investment of $848,500. Bakish was up about 5.9% on the buy at the high point of today's trading session, with AVID trading as high as $17.97 in trading on Monday. Avid Technology is trading up about 0.8% on the day Monday. Before this latest buy, Bakish purchased AVID on 7 other occasions during the past year, for a total cost of $5.47M at an average of $13.70 per share.
And at Weingarten Realty Investors (WRI), there was insider buying on Friday, by Director Marc J. Shapiro who bought 20,000 shares for a cost of $33.95 each, for a trade totaling $679,008. Weingarten Realty Investors is trading up about 2.2% on the day Monday.
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