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 Drive Shack (NYSE:DS), a filing with the SEC revealed that on Monday, Director Wesley R. Edens purchased 1,000,000 shares of DS, at a cost of $4.20 each, for a total investment of $4.20M. Edens was up about 2.3% on the purchase at the high point of today's trading session, with DS trading as high as $4.30 in trading on Tuesday. Drive Shack is trading up about 2.4% on the day Tuesday. This buy marks the first one filed by Edens in the past year.
And on Friday, Director Jeffrey H. Donahue purchased $500,094 worth of Xenia Hotels & Resorts (NYSE:XHR), purchasing 28,582 shares at a cost of $17.50 each. Xenia Hotels & Resorts is trading up about 0.5% on the day Tuesday. Bargain hunters have the opportunity to snag XHR even cheaper than Donahue did, with shares changing hands as low as $17.01 at last check today -- that's 2.8% under Donahue's purchase price.
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