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 Tuesday, Cherokee (CHKE)'s Director, Jess M. Ravich, made a $965,219 purchase of CHKE, buying 101,602 shares at a cost of $9.50 each. Ravich was up about 13.6% on the buy at the high point of today's trading session, with CHKE trading as high as $10.79 in trading on Thursday. Cherokee is trading up about 2.1% on the day Thursday. Before this latest buy, Ravich made one other purchase in the past year, buying $166,745 shares at a cost of $12.70 a piece.
And on Monday, Director William E. Greehey purchased $934,758 worth of NuStar Energy (NYSE:NS), purchasing 20,000 shares at a cost of $46.74 a piece. Before this latest buy, Greehey bought NS on 5 other occasions during the past twelve months, for a total cost of $4.98M at an average of $46.73 per share. NuStar Energy is trading up about 1% on the day Thursday. Greehey was up about 3.8% on the purchase at the high point of today's trading session, with NS trading as high as $48.50 in trading on Thursday.
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