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 Equitrans Midstream Corp (NYSE:ETRN), a filing with the SEC revealed that on Friday, CEO Thomas F. Karam bought 100,000 shares of ETRN, for a cost of $16.39 each, for a total investment of $1.64M. Investors are able to snag ETRN even cheaper than Karam did, with the stock trading as low as $15.62 at last check today which is 4.7% below Karam's purchase price. Equitrans Midstream Corp is trading off about 3.9% on the day Monday. Before this latest buy, Karam bought ETRN at 2 other times during the past year, for a total investment of $6.73M at an average of $19.22 per share.
And at Comfort Systems USA (NYSE:FIX), there was insider buying on Thursday, by Director Franklin Myers who bought 5,500 shares for a cost of $41.89 each, for a trade totaling $230,400. Before this latest buy, Myers bought FIX on 6 other occasions during the past twelve months, for a total cost of $1.01M at an average of $52.37 per share. Comfort Systems USA is trading off about 2.3% on the day Monday. Investors can pick up FIX at a price even lower than Myers did, with the stock changing hands as low as $40.35 in trading on Monday which is 3.7% below Myers's purchase price.
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