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 HC2 Holdings (NYSE:HCHC), a filing with the SEC revealed that on Friday, Director Wayne Barr Jr. bought 200,000 shares of HCHC, at a cost of $5.35 each, for a total investment of $1.07M. HC2 Holdings is trading off about 0.2% on the day Tuesday. This purchase marks the first one filed by Barr Jr. in the past year.
And on Monday, President Juan C. Jaen bought $999,990 worth of Arcus Biosciences (NYSE:RCUS), buying 66,666 shares at a cost of $15.00 each. This purchase marks the first one filed by Jaen in the past twelve months. Arcus Biosciences is trading off about 2.4% on the day Tuesday. So far Jaen is in the green, up about 12.3% on their buy based on today's trading high of $16.85.
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