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 Marriott Vacations Worldwide, a filing with the SEC revealed that on Wednesday, Director Charles Elliott Andrews bought 6,380 shares of VAC, for a cost of $79.17 each, for a total investment of $505,105. Andrews was up about 8.2% on the purchase at the high point of today's trading session, with VAC trading as high as $85.64 in trading on Monday. Marriott Vacations Worldwide is trading up about 4.9% on the day Monday.
And on Thursday, Exec VP of Tech Operations John L. Armstrong Jr. purchased $363,150 worth of CorMedix, purchasing 250,000 shares at a cost of $1.45 a piece. Before this latest buy, Armstrong Jr. made one other purchase in the past year, buying $10,000 shares at a cost of $0.48 each. CorMedix is trading up about 6.1% on the day Monday.
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