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 Alere (ALR), a filing with the SEC revealed that on Friday, Executive VP, CFO James F. Hinrichs purchased 20,000 shares of ALR, at a cost of $49.33 each, for a total investment of $986,570. Hinrichs was up about 6.2% on the buy at the high point of today's trading session, with ALR trading as high as $52.40 at last check today. Alere is trading down about 0.4% on the day Tuesday.
And at Enviva Partners LP (NYSE:EVA), there was insider buying on Friday, by Director John C. Bumgarner Jr. who bought 50,000 shares for a cost of $15.61 each, for a trade totaling $780,500. Before this latest buy, Bumgarner Jr. bought EVA on 2 other occasions during the past twelve months, for a total investment of $976,282 at an average of $19.18 per share. Enviva Partners LP is trading down about 0.7% on the day Tuesday. Investors have the opportunity to pick up EVA even cheaper than Bumgarner Jr. did, with shares trading as low as $15.08 at last check today which is 3.4% below Bumgarner Jr.'s purchase price.
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