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, a filing with the SEC revealed that on Monday, CEO Louis Hernandez Jr. purchased 150,000 shares of AVID, for a cost of $5.76 each, for a total investment of $864,240. Avid Technology is trading up about 6.9% on the day Wednesday. Before this latest buy, Hernandez Jr. made one other buy in the past twelve months, purchasing $188,400 shares at a cost of $9.42 each.
And at Triangle Capital, there was insider buying on Monday, by CEO E. Ashton Poole who purchased 28,600 shares at a cost of $17.78 each, for a total investment of $508,444. Triangle Capital is trading up about 0.1% on the day Wednesday. So far Poole is in the green, up about 4.3% on their purchase based on today's trading high of $18.54.
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