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 Cheniere Energy (AMEX:LNG), a filing with the SEC revealed that on Monday, CEO Jack A. Fusco bought 23,750 shares of LNG, at a cost of $42.32 each, for a total investment of $1.01M. Cheniere Energy is trading up about 0.1% on the day Tuesday. Before this latest buy, Fusco purchased LNG on 3 other occasions during the past year, for a total cost of $3.58M at an average of $40.90 per share.
And at Banc Of California (NYSE:BANC), there was insider buying on Thursday, by CEO Douglas H. Bowers who purchased 57,000 shares for a cost of $17.56 each, for a trade totaling $1.00M. Banc Of California is trading up about 6.4% on the day Tuesday. So far Bowers is in the green, up about 6.8% on their purchase based on today's trading high of $18.75.
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