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, Phillips 66 (NYSE:PSX)'s Director, John E. Lowe, made a $102,645 purchase of PSX, buying 1,500 shares at a cost of $68.43 each. Phillips 66 is trading up about 2.3% on the day Tuesday. Before this latest buy, Lowe purchased PSX at 2 other times during the past year, for a total cost of $448,320 at an average of $74.72 per share.
And at Ryman Hospitality Properties (NYSE:RHP), there was insider buying on Friday, by CFO Mark Fioravanti who bought 3,000 shares at a cost of $31.90 each, for a total investment of $95,702. Before this latest buy, Fioravanti made one other purchase in the past year, buying $231,237 shares at a cost of $15.42 a piece. Ryman Hospitality Properties is trading up about 2.1% on the day Tuesday. So far Fioravanti is in the green, up about 10.3% on their purchase based on today's trading high of $35.18.
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