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, a filing with the SEC revealed that on Thursday, Director Edward Shapiro purchased 50,000 shares of UAL, for a cost of $65.86 each, for a total investment of $3.29M. So far Shapiro is in the green, up about 2.6% on their buy based on today's trading high of $67.60. United Continental Holdings is trading up about 0.8% on the day Monday. Before this latest buy, Shapiro bought UAL at 2 other times during the past twelve months, for a total investment of $2.66M at an average of $66.61 per share.
And on Wednesday, Director James Gero purchased $893,360 worth of LCI Industries, purchasing 10,000 shares at a cost of $89.34 a piece. Before this latest buy, Gero bought LCII on 3 other occasions during the past twelve months, for a total investment of $2.03M at an average of $106.61 per share. LCI Industries is trading up about 1% on the day Monday.
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