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 VEREIT, a filing with the SEC revealed that on Wednesday, Chief Executive Officer Glenn J. Rufrano purchased 40,000 shares of VER, for a cost of $6.33 each, for a total investment of $253,152. Bargain hunters are able to pick up VER at a price even lower than Rufrano did, with the stock changing hands as low as $6.09 at last check today which is 3.7% below Rufrano's purchase price. VEREIT is trading up about 2.5% on the day Thursday.
And on Tuesday, Director Stephen C. Neal bought $224,142 worth of NVIDIA, buying 450 shares at a cost of $498.09 each. Before this latest buy, Neal made one other buy in the past year, purchasing $17,090 shares at a cost of $289.67 a piece. NVIDIA is trading up about 2.8% on the day Thursday.
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