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 Builders FirstSource (NASDAQ:BLDR), a filing with the SEC revealed that on Friday, Director David Barr bought 60,000 shares of BLDR, for a cost of $15.63 each, for a total investment of $937,800. Builders FirstSource is trading up about 2.4% on the day Wednesday. This buy marks the first one filed by Barr in the past twelve months.
And also on Friday, Director Stephen I. Sadove purchased $256,860 worth of Movado Group (NYSE:MOV), purchasing 6,000 shares at a cost of $42.81 each. This purchase marks the first one filed by Sadove in the past twelve months. Movado Group is trading up about 1.8% on the day Wednesday.
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