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 Wednesday, Comfort Systems USA's Director, Franklin Myers, made a $141,560 purchase of FIX, buying 4,000 shares at a cost of $35.39 a piece. Myers was up about 2.1% on the purchase at the high point of today's trading session, with FIX trading as high as $36.15 at last check today. Comfort Systems USA is trading up about 0.6% on the day Thursday. Before this latest buy, Myers bought FIX at 8 other times during the past twelve months, for a total investment of $613,785 at an average of $31.25 per share.
And at WSFS Financial, there was insider buying on Tuesday, by Francis B. Brake who purchased 2,700 shares at a cost of $46.95 each, for a total investment of $126,765. WSFS Financial is trading up about 1.2% on the day Thursday. So far Brake is in the green, up about 0.9% on their buy based on today's trading high of $47.35.
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