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 Thursday, Vici Properties (VICI)'s Chief Financial Officer, David Andrew Kieske, made a $300,000 purchase of VICI, buying 15,000 shares at a cost of $20.00 each. Vici Properties is trading down about 1.3% on the day Tuesday.
And on Monday, Director Gary E. Costley purchased $266,025 worth of Prestige Brands Holdings (NYSE:PBH), purchasing 7,500 shares at a cost of $35.47 each. This purchase marks the first one filed by Costley in the past year. Prestige Brands Holdings is trading up about 8.5% on the day Tuesday.
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