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 Monday, Bob Evans Farms (BOBE)'s Director, Kevin M. Sheehan, made a $190,144 buy of BOBE, purchasing 5,000 shares at a cost of $38.03 a piece. So far Sheehan is in the green, up about 2.0% on their purchase based on today's trading high of $38.80. Bob Evans Farms is trading off about 0.8% on the day Wednesday.
And also on Monday, Director A. Bray Cary Jr. purchased $22,468 worth of EQT purchasing 431 shares at a cost of $52.13 a piece. Before this latest buy, Cary Jr. bought EQT at 3 other times during the past year, for a total cost of $63,018 at an average of $76.11 per share. EQT is trading off about 5% on the day Wednesday. Investors are able to grab EQT even cheaper than Cary Jr. did, with shares changing hands as low as $49.76 at last check today which is 4.5% under Cary Jr.'s purchase price.
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