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 Tuesday, ION Geophysical's Director, James M. Lapeyre Jr., made a $182,920 buy of IO, purchasing 50,000 shares at a cost of $3.66 a piece. So far Lapeyre Jr. is in the green, up about 21.6% on their purchase based on today's trading high of $4.45. ION Geophysical is trading up about 18.3% on the day Wednesday. Before this latest buy, Lapeyre Jr. made one other purchase in the past year, buying $407,436 shares at a cost of $6.79 a piece.
And at Exxon Mobil, there was insider buying on Monday, by CEO Darren W. Woods who purchased 2,858 shares for a cost of $59.86 each, for a trade totaling $171,083. This purchase marks the first one filed by Woods in the past twelve months. Exxon Mobil is trading up about 0.6% on the day Wednesday. So far Woods is in the green, up about 2.8% on their purchase based on today's trading high of $61.53.
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