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 Entercom Communications Corp (NYSE:ETM), a filing with the SEC revealed that on Wednesday, Chairman Emeritus Joseph M. Field bought 375,000 shares of ETM, at a cost of $9.70 each, for a total investment of $3.64M. Entercom Communications Corp is trading up about 0.8% on the day Thursday. Before this latest buy, Field bought ETM on 13 other occasions during the past twelve months, for a total investment of $25.96M at an average of $10.09 per share.
And at resTORbio (TORC), there was insider buying on Wednesday, by CEO Chen Schor who bought 2,000 shares at a cost of $9.36 each, for a trade totaling $18,724. Before this latest buy, Schor made one other purchase in the past year, buying $16,915 shares at a cost of $8.46 each. resTORbio is trading off about 0.5% on the day Thursday. So far Schor is in the green, up about 9.6% on their buy based on today's trading high of $10.26.
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