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 Churchill Downs (NASDAQ:CHDN), a filing with the SEC revealed that on Friday, Director Richard L. Duchossois purchased 1,980 shares of CHDN, at a cost of $252.90 each, for a total investment of $500,743. Churchill Downs is trading up about 2.8% on the day Monday. Before this latest buy, Duchossois bought CHDN on 2 other occasions during the past year, for a total investment of $1.75M at an average of $212.76 per share.
And on Thursday, Director Gerald D. Cagle bought $89,175 worth of Clearside Biomedical (NASDAQ:CLSD), buying 7,500 shares at a cost of $11.89 each. Before this latest buy, Cagle purchased CLSD at 2 other times during the past twelve months, for a total investment of $135,254 at an average of $7.09 per share. Clearside Biomedical is trading up about 2.2% on the day Monday.
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