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 Monday, Brinks' CEO, Douglas A. Pertz, made a $1.56M purchase of BCO, buying 30,000 shares at a cost of $51.95 each. Brinks is trading up about 1.1% on the day Tuesday. Before this latest buy, Pertz made one other purchase in the past twelve months, buying $2.5M shares at a cost of $29.87 each.
And also on Monday, Director Olivier Reza bought $480,400 worth of Sotheby's, buying 10,000 shares at a cost of $48.04 a piece. Before this latest buy, Reza bought BID on 3 other occasions during the past year, for a total investment of $852,224 at an average of $28.41 per share. Sotheby's is trading up about 0.7% on the day Tuesday.
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