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 Great Lakes Dredge & Dock Corp (NASDAQ:GLDD), a filing with the SEC revealed that on Tuesday, Director Ryan Levenson purchased 46,464 shares of GLDD, for a cost of $10.57 each, for a total investment of $491,192. So far Levenson is in the green, up about 4.1% on their purchase based on today's trading high of $11.00. Great Lakes Dredge & Dock Corp is trading up about 2.1% on the day Thursday. This buy marks the first one filed by Levenson in the past year.
And on Monday, COO Craig L. Kauffman bought $223,188 worth of Codorus Valley Bancorp (NASDAQ:CVLY), buying 10,000 shares at a cost of $22.32 a piece. Codorus Valley Bancorp is trading up about 0.3% on the day Thursday. Bargain hunters are able to buy CVLY even cheaper than Kauffman did, with the stock trading as low as $21.77 at last check today which is 2.5% under Kauffman's purchase price.
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