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 Oritani Financial Corp (NASDAQ:ORIT), a filing with the SEC revealed that on Wednesday, Director Judith Schumacher-Tilton purchased 10,000 shares of ORIT, at a cost of $17.00 each, for a total investment of $170,003. Oritani Financial Corp is trading up about 1.2% on the day Friday. Before this latest buy, Schumacher-Tilton bought ORIT on 2 other occasions during the past twelve months, for a total investment of $119,571 at an average of $14.95 per share.
And also on Wednesday, Executive Chairman Georgia S. Derrico bought $72,348 worth of Southern National Bancorp Of Virginia (NASDAQ:SONA), buying 4,862 shares at a cost of $14.88 a piece. Before this latest buy, Derrico purchased SONA on 3 other occasions during the past twelve months, for a total investment of $281,548 at an average of $7.59 per share. Southern National Bancorp Of Virginia is trading up about 0.2% on the day Friday.
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