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 PBF Energy (NYSE:PBF), a filing with the SEC revealed that on Wednesday, Carso, S.A. de C.V. Inversora purchased 190,000 shares of PBF, for a cost of $25.53 each, for a total investment of $4.85M. Investors can grab PBF even cheaper than Inversora did, with the stock trading as low as $23.00 in trading on Monday which is 9.9% under Inversora's purchase price. PBF Energy is trading down about 10.1% on the day Monday. Before this latest buy, Inversora purchased PBF on 9 other occasions during the past twelve months, for a total cost of $100.63M at an average of $25.59 per share.
And at Celsius Holdings (NASDAQ:CELH), there was insider buying on Thursday, by Director William H. Milmoe who purchased 555,555 shares for a cost of $3.60 each, for a total investment of $2M. This buy marks the first one filed by Milmoe in the past twelve months. Celsius Holdings is trading trading flat on the day Monday. Milmoe was up about 5.6% on the purchase at the high point of today's trading session, with CELH trading as high as $3.80 in trading on Monday.
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