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 Monday, W & T Offshore's Director, Virginia Boulet, made a $40,927 purchase of WTI, buying 18,604 shares at a cost of $2.20 each. Bargain hunters have the opportunity to snag WTI even cheaper than Boulet did, with the stock trading as low as $2.12 at last check today -- that's 3.5% under Boulet's purchase price. W & T Offshore is trading off about 1.4% on the day Tuesday. Before this latest buy, Boulet bought WTI on 2 other occasions during the past year, for a total investment of $44,562 at an average of $2.10 per share.
And on Thursday, EVP and General Counsel Kumi Yamamoto Baruffi bought $8,597 worth of Columbia Banking System, buying 337 shares at a cost of $25.51 each. This purchase marks the first one filed by Baruffi in the past year. Columbia Banking System Inc is trading down about 1.6% on the day Tuesday. So far Baruffi is in the green, up about 5.7% on their buy based on today's trading high of $26.97.
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