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 Friday, Bassett Furniture Industries (NASDAQ:BSET)'s Director, John R. Belk, made a $314,850 buy of BSET, purchasing 15,000 shares at a cost of $20.99 a piece. Bassett Furniture Industries is trading off about 1.8% on the day Wednesday. This purchase marks the first one filed by Belk in the past twelve months.
And at Harvest Capital Credit Corporation (NASDAQ:HCAP), there was insider buying on Friday, by Chief Executive Officer Joseph A. Jolson who purchased 2,386 shares for a cost of $10.46 each, for a total investment of $24,966. Before this latest buy, Jolson purchased HCAP on 12 other occasions during the past year, for a total cost of $1.53M at an average of $10.30 per share. Harvest Capital Credit Corporation is trading off about 5% on the day Wednesday. So far Jolson is in the green, up about 6.6% on their buy based on today's trading high of $11.15.
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