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 Thursday, Itron (NASDAQ:ITRI)'s Director, Gary E. Pruitt, made a $1.06M purchase of ITRI, buying 20,000 shares at a cost of $52.88 a piece. So far Pruitt is in the green, up about 3.4% on their buy based on today's trading high of $54.69. Itron is trading off about 1.1% on the day Monday. This buy marks the first one filed by Pruitt in the past twelve months.
And at Main Street Capital (NYSE:MAIN), there was insider buying on Friday, by Executive Chairman Vincent D. Foster who bought 25,869 shares at a cost of $38.66 each, for a total investment of $1.00M. This purchase marks the first one filed by Foster in the past twelve months. Main Street Capital is trading up about 0.5% on the day Monday.
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