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 Wednesday, Pacific City Financial Corp (NASDAQ:PCB)'s Director, Don Rhee, made a $298,577 buy of PCB, purchasing 17,544 shares at a cost of $17.02 a piece. So far Rhee is in the green, up about 0.8% on their buy based on today's trading high of $17.15. Pacific City Financial Corp is trading up about 0.3% on the day Thursday. Before this latest buy, Rhee made one other buy in the past year, purchasing $237,381 shares for a cost of $19.78 a piece.
And also on Wednesday, EVP & Chief Financial Officer Joseph Douglas Ragan III bought $126,315 worth of Resideo Technologies Inc (NYSE:REZI), buying 6,300 shares at a cost of $20.05 each. Before this latest buy, Ragan III made one other purchase in the past year, buying $101,181 shares at a cost of $21.04 a piece. Resideo Technologies Inc is trading up about 2.4% on the day Thursday. Investors can snag REZI at a price even lower than Ragan III did, with the stock changing hands as low as $19.47 in trading on Thursday — that's 2.9% under Ragan III's purchase price.
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