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.
On Tuesday, Independent Bank Group (NASDAQ:IBTX)'s Director, G. Stacy Smith, made a $1.85M buy of IBTX, purchasing 25,000 shares at a cost of $74.13 a piece. So far Smith is in the green, up about 2.0% on their buy based on today's trading high of $75.60. Independent Bank Group is trading up about 0.7% on the day Thursday.
And at Cabot Oil & Gas Corp. (NYSE:COG), there was insider buying on Tuesday, by Director Robert Kelley who purchased 50,000 shares for a cost of $22.25 each, for a total investment of $1.11M. Before this latest buy, Kelley made one other purchase in the past twelve months, buying $54,940 shares for a cost of $27.47 a piece. Cabot Oil & Gas Corp. is trading up about 1.2% on the day Thursday. So far Kelley is in the green, up about 3.3% on their purchase based on today's trading high of $22.98.
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