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 Huntington Ingalls Industries (NYSE:HII), a filing with the SEC revealed that on Thursday, Director Philip M. Bilden purchased 4,000 shares of HII, at a cost of $265.14 each, for a total investment of $1.06M. Huntington Ingalls Industries is trading down about 0.1% on the day Monday. Before this latest buy, Bilden made one other buy in the past year, purchasing $515,042 shares at a cost of $234.11 a piece.
And at ConvergeOne Holdings (CVON), there was insider buying on Thursday, by Director Richard Katzman who purchased 125,000 shares at a cost of $8.00 each, for a trade totaling $1M. This purchase marks the first one filed by Katzman in the past year. ConvergeOne Holdings is trading up about 6.2% on the day Monday.
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