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, Del Taco Restaurants's Director, Lawrence F. Levy, made a $425,704 purchase of TACO, buying 50,800 shares at a cost of $8.38 each. Levy was up about 3.1% on the purchase at the high point of today's trading session, with TACO trading as high as $8.64 at last check today. Del Taco Restaurants is trading up about 1.8% on the day Friday. Before this latest buy, Levy bought TACO at 2 other times during the past year, for a total cost of $498,419 at an average of $2.90 per share.
And on Wednesday, Mehmood Khan bought $221,350 worth of CorMedix, buying 45,750 shares at a cost of $4.84 a piece. Before this latest buy, Khan made one other purchase in the past twelve months, buying $111,925 shares for a cost of $6.58 each. CorMedix is trading up about 3.7% on the day Friday.
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