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, Symantec Corp (NASDAQ:SYMC)'s Director, Peter A. Feld, made a $12.83M buy of SYMC, purchasing 650,000 shares at a cost of $19.73 each. Symantec Corp is trading up about 0.2% on the day Friday. This buy marks the first one filed by Feld in the past year.
And at PetIQ (NASDAQ:PETQ), there was insider buying on Wednesday, by James Nathan Clarke who purchased 31,031 shares for a cost of $28.12 each, for a trade totaling $872,585. This buy marks the first one filed by Clarke in the past year. PetIQ is trading up about 0.5% on the day Friday. Clarke was up about 2.0% on the buy at the high point of today's trading session, with PETQ trading as high as $28.69 at last check today.
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