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, Invesco's Director, Rod Canion, made a $377,800 buy of IVZ, purchasing 20,000 shares at a cost of $18.89 each. Invesco is trading up about 0.6% on the day Tuesday. Before this latest buy, Canion made one other buy in the past twelve months, purchasing $179,700 shares for a cost of $17.97 each.
And at NCI Building Systems, there was insider buying on Friday, by Director George Martinez who bought 12,000 shares for a cost of $7.07 each, for a trade totaling $84,889. NCI Building Systems is trading up about 0.1% on the day Tuesday. So far Martinez is in the green, up about 5.0% on their buy based on today's trading high of $7.43.
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