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 Blucora (BCOR), a filing with the SEC revealed that on Wednesday, Director Andrew Miles Snyder bought 226,268 shares of BCOR, for a cost of $10.23 each, for a total investment of $2.31M. Blucora is trading off about 1% on the day Monday. This purchase marks the first one filed by Snyder in the past twelve months.
And on Thursday, Vice Chair, Commercial Banking Donald H. McCree III bought $2.07M worth of Citizens Financial Group (NYSE:CFG), buying 80,000 shares at a cost of $25.83 a piece. This buy marks the first one filed by McCree III in the past twelve months. Citizens Financial Group is trading down about 0.8% on the day Monday. Bargain hunters can grab CFG at a price even lower than McCree III did, with shares changing hands as low as $25.27 in trading on Monday -- that's 2.2% below McCree III's purchase price.
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