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 Ultra Clean Holdings (NASDAQ:UCTT), a filing with the SEC revealed that on Wednesday, Director Clarence L. Granger bought 44,000 shares of UCTT, at a cost of $14.18 each, for a total investment of $623,905. Bargain hunters can pick up UCTT at a price even lower than Granger did, with shares changing hands as low as $13.53 at last check today which is 4.6% below Granger's purchase price. Ultra Clean Holdings is trading up about 2.1% on the day Friday. This buy marks the first one filed by Granger in the past twelve months.
And at Genuine Parts Co. (NYSE:GPC), there was insider buying on Tuesday, by Group President Automotive Scott Sonnemaker who purchased 5,000 shares at a cost of $99.01 each, for a total investment of $495,050. Genuine Parts Co. is trading down about 0.7% on the day Friday. Investors have the opportunity to snag GPC at a price even lower than Sonnemaker did, with shares changing hands as low as $97.87 in trading on Friday which is 1.2% under Sonnemaker's purchase price.
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