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 Lions Gate Entertainment Corp (NYSE:LGF.B), a filing with the SEC revealed that on Tuesday, Vice Chairman Michael Raymond Burns purchased 50,000 shares of LGF.B, at a cost of $20.43 each, for a total investment of $1.02M. So far Burns is in the green, up about 2.8% on their buy based on today's trading high of $21.00. Lions Gate Entertainment Corp is trading up about 3.3% on the day Thursday.
And on Monday, President, CEO Thomas L. Travis bought $475,000 worth of Bank7 Corp (NASDAQ:BSVN), buying 25,000 shares at a cost of $19.00 each. This purchase marks the first one filed by Travis in the past twelve months. Bank7 Corp is trading flat on the day Thursday.
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