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 Matador Resources (NYSE:MTDR), a filing with the SEC revealed that on Tuesday, Director David M. Laney purchased 10,000 shares of MTDR, for a cost of $26.45 each, for a total investment of $264,500. Bargain hunters are able to pick up MTDR even cheaper than Laney did, with the stock changing hands as low as $25.19 at last check today -- that's 4.8% below Laney's purchase price. Matador Resources is trading down about 2.6% on the day Friday. This buy marks the first one filed by Laney in the past twelve months.
And also on Tuesday, Thomas D. Shaw bought $147,972 worth of Midland States Bancorp (NASDAQ:MSBI), buying 4,425 shares at a cost of $33.44 each. Before this latest buy, Shaw made one other buy in the past year, purchasing $99,888 shares for a cost of $32.86 a piece. Midland States Bancorp is trading up about 0.4% on the day Friday. So far Shaw is in the green, up about 2.0% on their purchase based on today's trading high of $34.10.
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