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 United Security Bancshares (NASDAQ:UBFO), a filing with the SEC revealed that on Monday, Director Benjamin Mackovak purchased 389,958 shares of UBFO, for a cost of $8.20 each, for a total investment of $3.2M. United Security Bancshares is trading up about 0.6% on the day Tuesday. This buy marks the first one filed by Mackovak in the past year.
And on Friday, Director Manuel Kadre bought $1.21M worth of Mednax (NYSE:MD), buying 21,704 shares at a cost of $55.79 each. This buy marks the first one filed by Kadre in the past twelve months. Mednax is trading up about 0.3% on the day Tuesday. Bargain hunters have the opportunity to snag MD at a price even lower than Kadre did, with shares trading as low as $54.01 at last check today -- that's 3.2% under Kadre's purchase price.
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