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 Chewy (NYSE:CHWY), a filing with the SEC revealed that on Tuesday, Director Raymond Svider purchased 60,000 shares of CHWY, for a cost of $22.00 each, for a total investment of $1.32M. Svider was up about 71.0% on the purchase at the high point of today's trading session, with CHWY trading as high as $37.63 in trading on Wednesday. Chewy is trading off about 6% on the day Wednesday. This purchase marks the first one filed by Svider in the past year.
And at Nabors Industries (NYSE:NBR), there was insider buying on Friday, by Chief Financial Officer William J. Restrepo who purchased 177,100 shares at a cost of $2.03 each, for a total investment of $359,065. Nabors Industries is trading up about 6.7% on the day Wednesday. So far Restrepo is in the green, up about 18.9% on their purchase based on today's trading high of $2.41.
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