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 Monday, Newmark Group (NASDAQ:NMRK)'s Chief Executive Officer, Barry M. Gosin, made a $2.63M buy of NMRK, purchasing 306,429 shares at a cost of $8.59 a piece. Gosin was up about 8.8% on the purchase at the high point of today's trading session, with NMRK trading as high as $9.35 in trading on Tuesday. Newmark Group is trading up about 7.5% on the day Tuesday.
And also on Monday, Executive Vice President Bartow Morgan Jr. bought $823,743 worth of Renasant Corp (NASDAQ:RNST), buying 25,000 shares at a cost of $32.95 each. Renasant Corp is trading up about 1.1% on the day Tuesday. So far Morgan Jr. is in the green, up about 3.0% on their purchase based on today's trading high of $33.94.
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