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 Array Technologies, a filing with the SEC revealed that on Monday, Chief Technology Officer Lucas D. Creasy purchased 19,191 shares of ARRY, at a cost of $22.00 each, for a total investment of $422,202. So far Creasy is in the green, up about 85.1% on their purchase based on today's trading high of $40.73. Array Technologies is trading up about 2.4% on the day Tuesday. This buy marks the first one filed by Creasy in the past twelve months.
And at BioVie, there was insider buying on Thursday, by Director Steve Gorlin who purchased 15,100 shares for a cost of $10.10 each, for a total investment of $152,517. Before this latest buy, Gorlin bought BIVI at 3 other times during the past year, for a total investment of $197,154 at an average of $9.86 per share. BioVie is trading off about 0.3% on the day Tuesday. Bargain hunters can bag BIVI at a price even lower than Gorlin did, with shares trading as low as $9.48 at last check today -- that's 6.1% under Gorlin's purchase price.
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