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, PICO Holdings (PICO)'s Director, Andrew F. Cates, made a $61,495 purchase of PICO, buying 4,100 shares at a cost of $15.00 a piece. Cates was up about 2.7% on the buy at the high point of today's trading session, with PICO trading as high as $15.40 in trading on Friday. PICO Holdings is trading up about 0.3% on the day Friday. This purchase marks the first one filed by Cates in the past year.
And at GUESS ? (NYSE:GES), there was insider buying on Tuesday, by CEO and Director Amigo Victor Herrero who purchased 2,724 shares at a cost of $12.25 each, for a total investment of $33,369. Before this latest buy, Herrero purchased GES at 3 other times during the past year, for a total investment of $68,266 at an average of $15.37 per share. GUESS ? is trading up about 0.2% on the day Friday.
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