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 The Charles Schwab Corporation (NYSE:SCHW), a filing with the SEC revealed that on Wednesday, CEO Walter W. Bettinger bought 124,669 shares of SCHW, for a cost of $38.81 each, for a total investment of $4.84M. Bettinger was up about 7.2% on the purchase at the high point of today's trading session, with SCHW trading as high as $41.62 at last check today. The Charles Schwab Corporation is trading up about 0.5% on the day Friday. This purchase marks the first one filed by Bettinger in the past twelve months.
And at Front Yard Residential Corp (NYSE:RESI), there was insider buying on Wednesday, by Park Road Management Company, LP Deer who bought 400,000 shares for a cost of $8.42 each, for a trade totaling $3.37M. Before this latest buy, Deer bought RESI at 2 other times during the past twelve months, for a total investment of $4.85M at an average of $8.82 per share. Front Yard Residential Corp is trading up about 0.7% on the day Friday.
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