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 Continental Holdings (NYSE:UAL), a filing with the SEC revealed that on Thursday, Director Edward Shapiro bought 25,000 shares of UAL, at a cost of $70.65 each, for a total investment of $1.77M. United Continental Holdings is trading off about 0.6% on the day Monday. Before this latest buy, Shapiro bought UAL at 2 other times during the past year, for a total cost of $1.59M at an average of $63.66 per share.
And at United States Steel Corp. (NYSE:X), there was insider buying on Wednesday, by EVP & Chief Financial Officer Kevin Bradley who purchased 20,000 shares for a cost of $39.99 each, for a total investment of $799,760. Before this latest buy, Bradley made one other buy in the past twelve months, purchasing $1.00M shares at a cost of $27.23 a piece. United States Steel Corp. is trading down about 0.2% on the day Monday.
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