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, Pacific City Financial's Director, Don Rhee, made a $237,381 buy of PCB, purchasing 12,000 shares at a cost of $19.78 a piece. Bargain hunters have the opportunity to bag PCB even cheaper than Rhee did, with the stock changing hands as low as $19.01 in trading on Wednesday — that's 3.9% under Rhee's purchase price. Pacific City Financial is trading off about 1.1% on the day Wednesday.
And also on Tuesday, Director John Pappajohn bought $162,500 worth of MYnd Analytics, buying 100,000 shares at a cost of $1.62 each. This purchase marks the first one filed by Pappajohn in the past twelve months. MYnd Analytics is trading up about 12.2% on the day Wednesday. Pappajohn was up about 20.6% on the purchase at the high point of today's trading session, with MYND trading as high as $1.96 at last check today.
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