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 Ovintiv, a filing with the SEC revealed that on Friday, Director Thomas G. Ricks purchased 15,500 shares of OVV, at a cost of $15.87 each, for a total investment of $245,985. Investors have the opportunity to bag OVV even cheaper than Ricks did, with the stock trading as low as $13.46 at last check today -- that's 15.2% below Ricks's purchase price. Ovintiv is trading off about 6.3% on the day Tuesday.
And at Central Securities, there was insider buying on Friday, by Vice President Andrew J. O'neill who bought 5,325 shares at a cost of $33.14 each, for a trade totaling $176,451. This buy marks the first one filed by O'neill in the past year. Central Securities is trading off about 1.9% on the day Tuesday. Bargain hunters have the opportunity to pick up CET even cheaper than O'neill did, with shares trading as low as $31.85 at last check today -- that's 3.9% under O'neill's purchase price.
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