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 Harvest Capital Credit Corporation (NASDAQ:HCAP), a filing with the SEC revealed that on Tuesday, Chief Executive Officer Joseph A. Jolson bought 46,511 shares of HCAP, at a cost of $10.45 each, for a total investment of $486,046. Harvest Capital Credit Corporation is trading off about 0.3% on the day Wednesday. Before this latest buy, Jolson bought HCAP at 10 other times during the past twelve months, for a total cost of $1.01M at an average of $10.23 per share.
And on Monday, Ira Sochet purchased $219,237 worth of Otelco (NASDAQ:OTEL), purchasing 14,599 shares at a cost of $15.02 each. Before this latest buy, Sochet purchased OTEL at 4 other times during the past year, for a total investment of $4.32M at an average of $12.31 per share. Otelco is trading down about 0.5% on the day Wednesday. Sochet was up about 1.1% on the buy at the high point of today's trading session, with OTEL trading as high as $15.18 at last check today.
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