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 Hawkins, a filing with the SEC revealed that on Friday, CEO and President Patrick H. Hawkins bought 15,085 shares of HWKN, for a cost of $34.22 each, for a total investment of $516,277. Hawkins was up about 10.3% on the purchase at the high point of today's trading session, with HWKN trading as high as $37.74 in trading on Monday. Hawkins is trading up about 3.3% on the day Monday.
And on Thursday, Director John E. Bethancourt purchased $502,800 worth of Devon Energy, purchasing 12,000 shares at a cost of $41.90 a piece. This buy marks the first one filed by Bethancourt in the past twelve months. Devon Energy is trading up about 0.4% on the day Monday.
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