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 Montrose Environmental Group, a filing with the SEC revealed that on Monday, Director Robin Newmark bought 5,000 shares of MEG, for a cost of $15.00 each, for a total investment of $75,000. Newmark was up about 46.5% on the buy at the high point of today's trading session, with MEG trading as high as $21.97 at last check today. Montrose Environmental Group is trading off about 4.1% on the day Thursday. This purchase marks the first one filed by Newmark in the past twelve months.
And on Wednesday, CEO Daniel R. Sheehan purchased $49,350 worth of Professional Holding, purchasing 4,700 shares at a cost of $10.50 a piece. Before this latest buy, Sheehan made one other buy in the past twelve months, purchasing $46,250 shares for a cost of $18.50 a piece. Professional Holding is trading up about 3.2% on the day Thursday.
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