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 PulteGroup, a filing with the SEC revealed that on Tuesday, EVP, Gen Counsel, Corp Sec'y Todd N. Sheldon purchased 5,000 shares of PHM, at a cost of $41.49 each, for a total investment of $207,445. PulteGroup is trading down about 1.8% on the day Thursday. This purchase marks the first one filed by Sheldon in the past year.
And on Wednesday, Director John R. Holder bought $201,783 worth of Genuine Parts, buying 2,200 shares at a cost of $91.72 a piece. This purchase marks the first one filed by Holder in the past year. Genuine Parts is trading up about 0.9% on the day Thursday. Investors have the opportunity to snag GPC at a price even lower than Holder did, with the stock changing hands as low as $89.64 at last check today which is 2.3% under Holder's purchase price.
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