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 Francesca's Holdings Corp (NASDAQ:FRAN), a filing with the SEC revealed that on Tuesday, Director Martyn R. Redgrave purchased 15,000 shares of FRAN, at a cost of $3.93 each, for a total investment of $58,950. Francesca's Holdings Corp is trading up about 3% on the day Wednesday. This buy marks the first one filed by Redgrave in the past twelve months.
And also on Tuesday, Director Carl G. Herde bought $36,600 worth of Stock Yards Bancorp (NASDAQ:SYBT), buying 1,000 shares at a cost of $36.60 each. Before this latest buy, Herde purchased SYBT at 11 other times during the past year, for a total cost of $127,019 at an average of $36.29 per share. Stock Yards Bancorp is trading up about 0.1% on the day Wednesday. Investors have the opportunity to buy SYBT at a price even lower than Herde did, with shares changing hands as low as $35.80 at last check today which is 2.2% below Herde's purchase price.
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