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 WesBanco (NASDAQ:WSBC), a filing with the SEC revealed that on Friday, Director Gary L. Libs purchased 7,420 shares of WSBC, for a cost of $32.82 each, for a total investment of $243,508. Investors have the opportunity to buy WSBC even cheaper than Libs did, with shares changing hands as low as $32.31 at last check today -- that's 1.5% under Libs's purchase price. WesBanco is trading down about 0.9% on the day Wednesday.
And on Monday, Director Terry Lee Burman bought $197,487 worth of Tuesday Morning Corp. (TUES), buying 40,000 shares at a cost of $4.94 a piece. Before this latest buy, Burman made one other purchase in the past year, buying $331,200 shares at a cost of $5.52 each. Tuesday Morning Corp. is trading up about 1.1% on the day Wednesday. Investors have the opportunity to pick up TUES even cheaper than Burman did, with shares changing hands as low as $4.60 in trading on Wednesday which is 6.8% below Burman's purchase price.
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