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 Friday, Owl Rock Capital Corporation (NYSE:ORCC)'s Director, Chris Temple, made a $179,235 purchase of ORCC, buying 10,500 shares at a cost of $17.07 a piece. Temple was up about 3.0% on the buy at the high point of today's trading session, with ORCC trading as high as $17.59 in trading on Wednesday. Owl Rock Capital Corporation is trading down about 0.9% on the day Wednesday.
And on Tuesday, Director Nelson Obus bought $103,800 worth of Landec Corp. (NASDAQ:LNDC), buying 10,000 shares at a cost of $10.38 each. Before this latest buy, Obus purchased LNDC on 12 other occasions during the past year, for a total cost of $1.92M at an average of $10.78 per share. Landec Corp. is trading up about 1.4% on the day Wednesday. Obus was up about 4.6% on the purchase at the high point of today's trading session, with LNDC trading as high as $10.86 at last check today.
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