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 Wednesday, Liberty Latin America's CEO, Balan Nair, made a $125,385 buy of LILA, purchasing 15,000 shares at a cost of $8.36 each. Bargain hunters can bag LILA at a price even lower than Nair did, with shares changing hands as low as $8.13 in trading on Monday -- that's 2.7% under Nair's purchase price. Liberty Latin America is trading down about 2.6% on the day Monday. Before this latest buy, Nair bought LILA on 2 other occasions during the past twelve months, for a total investment of $199,709 at an average of $9.51 per share.
And at Citizens & Northern, there was insider buying on Wednesday, by CEO J. Bradley Scovill who purchased 5,000 shares for a cost of $16.91 each, for a trade totaling $84,525. Before this latest buy, Scovill made one other buy in the past twelve months, purchasing $14,141 shares for a cost of $18.08 each. Citizens & Northern is trading off about 4.3% on the day Monday. Bargain hunters can pick up CZNC even cheaper than Scovill did, with shares changing hands as low as $15.75 at last check today which is 6.8% under Scovill's purchase price.
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