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 Mission Produce, a filing with the SEC revealed that on Thursday, CHIEF OPERATING OFFICER Michael A. Browne purchased 3,500 shares of AVO, at a cost of $12.25 each, for a total investment of $42,875. Mission Produce is trading off about 1.3% on the day Tuesday. This purchase marks the first one filed by Browne in the past year.
And on Monday, CEO D. Clay Bretches purchased $28,427 worth of Altus Midstream, purchasing 2,620 shares at a cost of $10.85 a piece. Before this latest buy, Bretches bought ALTM at 8 other times during the past year, for a total investment of $254,706 at an average of $1.06 per share. Altus Midstream is trading up about 0.6% on the day Tuesday. Bretches was up about 4.1% on the purchase at the high point of today's trading session, with ALTM trading as high as $11.30 in trading on Tuesday.
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