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 Qurate Retail (NASDAQ:QRTEA), a filing with the SEC revealed that on Thursday, President, CEO Michael A. George purchased 220,600 shares of QRTEA, for a cost of $20.40 each, for a total investment of $4.5M. George was up about 2.3% on the purchase at the high point of today's trading session, with QRTEA trading as high as $20.87 in trading on Tuesday. Qurate Retail is trading off about 0.5% on the day Tuesday. This buy marks the first one filed by George in the past twelve months.
And on Friday, Director Arcilia Acosta bought $249,577 worth of Magnolia Oil & Gas Corp (NYSE:MGY), buying 17,950 shares at a cost of $13.90 each. This buy marks the first one filed by Acosta in the past year. Magnolia Oil & Gas Corp is trading up about 0.9% on the day Tuesday. Acosta was up about 1.8% on the buy at the high point of today's trading session, with MGY trading as high as $14.16 at last check today.
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