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 Tuesday, Lakeland Financial Corp (NASDAQ:LKFN)'s Director, M. Scott Welch, made a $1.14M purchase of LKFN, buying 25,000 shares at a cost of $45.64 each. Welch was up about 2.4% on the purchase at the high point of today's trading session, with LKFN trading as high as $46.75 in trading on Wednesday. Lakeland Financial Corp is trading up about 0.5% on the day Wednesday. Before this latest buy, Welch bought LKFN at 3 other times during the past twelve months, for a total investment of $708,348 at an average of $42.25 per share.
And on Monday, Robert J. Bishop bought $1.03M worth of Unifi (NYSE:UFI), buying 29,329 shares at a cost of $35.22 a piece. Before this latest buy, Bishop bought UFI at 7 other times during the past twelve months, for a total investment of $1.41M at an average of $30.04 per share. Unifi is trading up about 0.7% on the day Wednesday.
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